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Please provide a history of the the growth of the brand Rock & Republic.
Hello! Thanks for your request for a history of the growth of the denim brand Rock & Republic.
The short version is that I have provided Rock & Republic's history timeline and growth over the years as well as its present status.
Below you will find a deep dive of my findings.
HISTORY
Here is a timeline of Rock & Republic's history based on the sources I have found.
Pre-2002 - Michael Ball, Rock & Republic's founder, was a dedicated cyclist who designed race suits for his teammates. He also designed a pair of blue jeans for his girlfriend which drew attention and started the idea of a denim brand. Ball used his winnings from cycling as well as a past deal with the company Xerox to start his business.
2002 - Michael Ball launches Rock & Republic after meeting Andrea Bernholtz, who helps him with her experience in the entertainment and luxury fashion industry.
2004 - Spicegirl celebrity Victoria Beckham signs a $500,000 contract to endorse Rock & Republic's limited edition line of jeans for women. This boosts the brand's popularity.
2006 - Victoria Beckham launches her own denim line and leaves Rock & Republic.
2007 - Michael Ball launches Rock Racing, a professional cycling team that wears the Rock & Republic logo on their racing uniforms. At this time Rock & Republic also secures sponsorship of luxury brand Cadillac.
2009 - Rock Racing is disbanded, followed by layoffs within the company. At the same time, Rock & Republic launched its affordable premium denim line "Recessions Collection". However, the company continues to struggle during the economic recession.
2010 - Rock & Republic files for Chapter 11 bankruptcy protection and obtains $7.5 million in debtor-in-possession financing from CIT Group.
2011 - VF Corporation buys the brand, but not its remaining inventory and stores, for $57 million. In the same year, VF Corporation licenses Kohl's to sell Rock & Republic apparel exclusively in its stores and at Kohl's typical prices.
Analysis: Racked Chicago observed that Rock & Republic ran into trouble when it launched its cosmetic lines and expanded into freestanding stores in the middle of the recession, just as buyers spurned luxury denims. The New York Post also identified Michael Ball as an aggravating factor in the company's slide into bankruptcy. According to NYP, Michael Ball collected expensive luxury cars at the company's expense.
GROWTH
2002 - Rock & Republic was able to sell its denim line in 500 stores in its first year. This is due to the brand's timing of its launch and its product quality that attracted a cult following.
2004 - Rock & Republic debuts a men's denim line. It also gained popularity for the runway shows it would stage at the twice-yearly Los Angeles Fashion Week.
2006 - By this time Rock & Republic was selling its apparel in 2,000 stores. Encyclopedia.com observes that R&R had remained a privately held company in contrast to its competitors e.g. 7 For All Mankind, True Religion, etc. which had signed up with larger apparel manufacturers.
2007 - Rock & Republic plans its first freestanding stores in premium destinations such as New York's Meatpacking District and London's Notting Hill area.
2009 - Michael Ball reportedly had plans to offer an initial public offering of stock once the additional lines of accessories which included footwear, eyewear, and men's suits and ties were fully operational. However, by next year Rock & Republic had filed for Chapter 11 protection against bankruptcy.
POST-BANKRUPTCY
Following its Chapter 11 filing, Rock & Republic announced that it will continue to be in business while reorganizing its operations.
Mr. Geoffrey Lurie, R&R's Chief Restructuring Officer, said, "The pillars of our restructuring strategy include strengthening the Company’s financial capacity, realigning its product focus and enhancing its operational execution."
CONCLUSION
To wrap it up, based on available resources I have provided Rock & Republic's history timeline and growth over the years as well as its present status.
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