Rave Review

AZ3 Inc. (Vernon, Calif.) – also known as the BCBG Max Azria Group – has purchased the remaining 70 percent of Max Rave LLC that it didn’t own from Guggenheim Corporate Funding LLC. It will operate as a subsidiary of BCBG Max Azria Group Inc.

Max Rave was created in February, as a joint venture by BCBG Max Azria Group, Inc. and Guggenheim Corporate Funding LLC, as an entity to bid in bankruptcy auction for the assets of G+G Retail Inc. (New York), a 500-store operation with the G+G, Authentica, Rave and Rave Girl nameplates. It won the bid with a $35 million cash offering.

As a wholly owned subsidiary, Max Rave will be operated as a separate entity from BCBG and it is anticipated that later in 2006 it will be merged into BCBG. The parent company said the completion of the acquisition is an important step in BCBG's strategy of expanding brands and channels of distribution.

BCBG was founded in 1989 by Max Azria. It got its name from the Parisian phrase bon chic, bon genre (“good style, good attitude”).