NEW YORK: Steinreich Communications Group has acquired Kenwerks, a fashion PR and marketing firm with offices in New York and Los Angeles.
Kenwerks’ 10 employees will be retained and moved into Steinreich’s New York and Los Angeles offices, bringing the parent agency's total headcount to 65 globally.
Kenwerks founder and CEO Kenneth Loo will join Steinreich as SVP of its global fashion group. In the past, he has represented fashion brands including boohoo.com, Cult Denim, and Triton.
Stan Steinreich, president and CEO, explained the acquisition of Kenwerks will root his business further in the fashion space, adding it will also help it expand to New York, Los Angeles, London, Germany, and Tel Aviv.
Steinreich said this acquisition will complement both its fashion and home-furnishings businesses, because of the increasing cross-fertilization between those two areas.
"Kenwerks also has a tremendous creative services unit, which does wonderful design work," added Steinreich. "And it has an entertainment group that does product placement, celebrity engagement, and so on."
While Steinreich did look at other agencies to acquire, the CEO said the expertise and corporate exposure Loo brings as an alum of Dolce & Gabbana and Ben Sherman were key factors.
He said his firm would make two more acquisitions before the year is out to increase its geographic and industrial diversity, following its previous acquisition strategy. In 2015, the firm reported 2015 revenues of almost $17.8 million in PRWeek's 2016 Agency Business Report.
"I see an opportunity to help these roughly $1 million agencies propel themselves to greater growth, but they need the right nurturing, partnerships, and investments," Steinreich added.
Steinreich moved its main headquarters from Fort Lee, New Jersey to Manhattan, New York City at the beginning of June.