Streetwear brand DOPE announced today that it was acquired by Rob Gough, an entrepreneur and investor who will now lead the brand as CEO. DOPE had its best year ever in 2016, and with this acquisition, Gough plans to take the business to new heights. This acquisition makes DOPE the first major streetwear brand to be privately acquired in a long time.
Gough first became interested in DOPE eight years ago and has maintained continuous contact with the company ever since. After seeing the brand break its own sales record, Gough negotiated an all-cash purchase and has a big vision for the company’s future. He plans to invest heavily in the online presence, DOPE.com, and create a new line of women’s apparel and smoking accessories. Expect to see both lines come to fruition in the near future.
Gough has a long history of running businesses and investing. He started his first company in college, after undergoing chemotherapy his freshman year for a rare bone cancer called Ewing Sarcoma. He has since sold several companies, with his last one selling to a public company in Silicon Valley.
DOPE was founded in 2007 and has managed to stay relevant for 10 years—a rare feat in the fast-moving world of streetwear. The progressive brand, which draws inspiration from both luxury lifestyle and street culture, has built a unique following that includes celebrities, artists, athletes, and music icons. Its flagship boutique, located in the historic Fairfax neighborhood of Los Angeles, attracts tastemakers and serves as a hub for exclusive releases and events.
Take a look at DOPE’s new Sport Line below and head over to the DOPE website to check out the rest of their offerings.