It bought Lids for less than half what it last sold for, rescued Claire's from liquidation, and calls itself a mini-Berkshire. Ames Watson would rather own a brand for thirty years than sell it in five.
Ben Bennett's West Hollywood accelerator spots gaps on the shelf, hands them to founders with real equity, and points each new brand toward an exit - Naturium sold to e.l.f. Beauty for $355 million.