You may remember that about seven months ago a brand called Antik Denim was taken public by denim giant Mr. Paul Guez via a reverse merger transaction. Now DNR reports that his son, Daniel "Danny" Guez, has followed suit by folding the parent companies of denim-based lines William Rast and People's Liberation into a public company and changing its name to People’s Liberation, Inc.
So what does this all mean? Guez Jr. says that the $7.2M raised will be used toward "buying inventory and hiring the personnel we need to really grow." You can look forward to a stronger brand presence and consciousness as People’s Liberation dukes it out with True Religion and the other premium denim brands (I already have scouts on Canal Street on the look out for knock-offs).