by Joe Henry | November 19, 2018
Incentive Concepts, which sells high-end merchandise for corporate reward programs, has entered into an agreement to acquire incentive supplier Elite Creations.

Incentive Concepts, distributes and sells products from top brands like Bose, Briggs&Riley, and Escalade Sports, and in buying Elite Creations, it inherits a bevy of aspirational brands including Kate Spade New York, Lauren by Ralph Lauren, and Rebecca Minkoff. Until this acquisition, which will go into effect Jan. 1, 2019, fashion had been a hole in Incentive Concepts' portfolio.

"This acquisition will allow us to offer our customers a range of highly sought after fashion brands that can fill the category for them," said Incentive Concept's SVP of sales Brian Rivolta. 

He added that Elite Creations also rounds out Incentive Concepts' portfolio of power equipment brands. 

"We have become a more complete supplier to our customers because of this strategic acquisition," Rivolta told Incentive.

Incentive Concepts will employ Elite Creations' staff and it will also fulfill order processing for both companies by Jan. 2, 2019. 

And by the second half of 2019, Elite's fulfillment operations will have transitioned to Incentive Concepts, whose current sales staff will manage the combined sales teams.  

Joe Reinberg, CEO and president of Incentive Concepts, characterized the acquisition as a rare opportunity: "Our companies have minimal existing product overlaps and even share a number of the same independent sales representatives," Reinberg said in a release. 

Rivolta noted that vendor consolidation has been a recent trend in the incentive market industry, as clients want to work with fewer stakeholders.

"Importing and exporting information to and from vendors can be cumbersome and the fewer suppliers that they have to work with, the happier they are," Rivota said.