RTTNews | Apr 5, 2021 10:40AM EDT

10:40 Monday, April 5, 2021 (RTTNews.com) - Shares of media and consumer products company Xcel Brands, Inc. (XELB) are surging more than 100% Monday morning on the news of its decision to acquire Lori Goldstein brands, including LOGO by Lori Goldstein.

Launched in 2009, LOGO by Lori Goldstein has been profitable since inception.

"Xcel Brands continues to provide brands with the operating and technology platform needed to succeed in a dynamic and complex market. Our investment in LOGO by Lori Goldstein reinforces our commitment to help propel the industry forward by optimizing the business outcomes of our brands through a true omni channel distribution strategy and by reimagining shopping, entertainment and social media as one thing," said Robert W. D'Loren, Xcel Brands' Chairman and Chief Executive Officer.

XELB touched a new high of $4.15 today.

Read the original article on RTTNews ( https://www.rttnews.com/3182480/stock-alert-xcel-brands-at-new-high-on-news-of-buying-lori-goldstein-brands.aspx)

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