Intellectual Property Acquisition Opportunity

Hilco Streambank is seeking offers to acquire intellectual property assets associated with the Ghurka® brand (“Ghurka” or the “Company”), including trademarks, domains, customer data and social media accounts, as well as Ghurka Brands Holdings LLC’s equity interest in Ursa Minor B.V., a Dutch limited liability company which owns the Company’s trademarks (the “Property").  A sale of the Property will be conducted pursuant to Article 9 of the Uniform Commercial Code by Hilco Streambank, as agent for Gordon Brothers Brands, LLC (“GBB”), a secured lender. 

grocery store photo

Offer Deadline: June 11, 2018 @ 4:00 p.m. Eastern Time (US)

Auction Date: June 13, 2018 @ 10:00 a.m. Eastern Time (US)

A Rich Brand Heritage

The Ghurka brand was born in the early 1970s when founder Marley Hodgson attended an estate sale in the United Kingdom where he encountered a rare collection of camping gear including boots, belts and backpacks that once belonged to a British Gurkha commander at the turn of the century. While nearly 100 years old, the leather remained supple, sturdy and full of character. Captivated by the collection, Marley returned to the United States and made his first Ghurka bag – a leather knapsack. In 1975, utilizing the world’s finest leathers, the utmost attention to detail and respect for the craft, Marley designed his first Ghurka collection at a factory in Norwalk, Connecticut.

Since 1975, the Ghurka brand has been synonymous with luxury hand-crafted leather travel bags and accessories. Developed in the United States and produced with its partner factories in Connecticut, Spain and Italy, Gurkha branded products are heirloom pieces made to last for generations. Gurkha products incorporate vegetable-tanned leathers from Europe and the United States which, when combined with solid brass and nickel hardware hand-cast by premier craftsmen in Italy, contribute to their classic yet enduring style.

Available Assets


The Ghurka® trademark registered in the U.S., Argentina, Canada, China, European Union, France, Hong Kong, Japan, Mexico, Russia, South Korea and Taiwan.

Domain, from which the Company generated $2.68M in revenue and attracted approximately 536K visitors in 2017.

Customer Data

Approximately 17,000 customer files with email addresses and approximately 23,000 customer files with mailing addresses. There may be overlap in the customer lists.

Social Media Assets

  • Facebook - 40K page likes

  • Instagram - 20K followers

  • Twitter - 3K followers

  • Pinterest - 2K monthly views

Certain Equity Interests

The equity interests in Ursa Minor B.V., a private company with limited liability organized under the laws of the Netherlands, are available for sale. Ursa Minor owns the registered trademarks.

Category Overview

sales graph

mens leather bag


leather bags




small leather goods

womens leather bag


sleek & chic

urban silhouettes



small leather goods

travel leather bag


compact silhouettes

modern backpacks

totes and trunks

classic leather luggage

duffel bags

leather wine carrier


gifts for her & him

game sets


Growth Opportunity

Ghurka branded products have been distributed globally through wholesale channels including upscale department stores such as Nordstrom, Barneys, Neiman Marcus, Fortnum & Mason, and fine specialty retailers. The brand also has a retail showroom on Madison Avenue in New York City and sells product through its website, Direct e-commerce sales are strong, generating approximately 45% of the Ghurka brand total revenue in 2017. The Ghurka brand has recently been extended into women’s accessories, a category which now accounts for 13% of Ghurka branded sales. The opportunity to deploy the Ghurka brand in the direct-to-consumer channel, and to expand the brand’s reach in women’s focused product represent key growth opportunities for any buyer.

A History of Partnerships

Ghurka has a long and storied history of partnerships that enrich the brand. At the request of the office of President Ronald Reagan, Ghurka created custom agendas for each of the President’s most trusted staff members, hand-embossed with the Presidential Seal. Since then, Ghurka has partnered with such distinguished brands as MacLaren (providing leather travel pouches which conceal the owner’s manual of select MacLaren automobiles) and Four Seasons Private Jet (the sole “cabin bag” provider to jet patrons). The Ghurka brand has also attracted a loyal fan base that includes celebrities and influential icons.

Financial Overview

The financials create opportunities to scale the brand.
Nearly 50% of all online transactions in 2017 originated on a mobile device.

Fiscal Year Total Revenue
2015 $6.47M
2016 $7.18M
2017 $6.09M
Medium Total Revenue 2017
E-Commerce $2.7M
Retail/Pop Up $2.4M
Wholesale $930K

Ghurka is Well-Positioned to Capitalize on the Expanding Luxury Goods Market

The global luxury goods market reached approximately $1.42 trillion in 2017, representing a five percent growth year-over-year. The handbag segment was one of the three fastest-growing luxury product categories. Eighty-five percent of the growth in the luxury goods market in 2017 was fueled by customers in Generations Y and Z.1 Recognizing the “millenialization” of luxury customers, the Ghurka brand has adapted, offering certain products at a reduced price point of $595, designed to draw in the younger segment and introduce them to the understated confidence of the brand.

Furthermore, the appeal of the Ghurka brand is evident in online and mobile channels, with nearly half of the Company’s sales occurring online, and of those, approximately 50% originating on a mobile device. The brand is well-positioned to capitalize on the upward trend of online consumer spending trends in the luxury space, which is expected to more than triple by 2025 to approximately $90 billion, projected to represent one-fifth all sales.2

1: Bain & Company, December 2017, “Luxury Goods Worldwide Market Study, Fall-Winter 2017”
2: McKinsey & Company, January 2018, “The Age of Digital Darwinism”


Access to an online data room with detailed diligence information regarding the offering will be provided upon execution of a non-disclosure agreement.

Interested Parties

For more information about submitting an offer please complete the form and a Hilco Streambank representative will be in contact with you.

Hilco Global will only use data you have agreed to share with us. You have the ability to view, change and delete data at any time upon request. Please view our privacy policy.

Sale Process

The Property will be sold "AS IS, WHERE IS," "WITH ALL FAULTS," and "WITHOUT ANY WARRANTIES WHATSOEVER, EXPRESSED OR IMPLIED, INCLUDING, WITHOUT LIMITATION, A WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR OR OTHER PURPOSE," and subject to taxes, special assessments and liens that have been levied or assessed, and/or are unpaid or unsatisfied (none of which will be paid by GBB). The Property is being sold without recourse to GBB, its attorneys or representatives. GBB does not claim title to the Property being sold and disclaims any warranty of title, possession, quiet enjoyment and the like in the sale.

All of the Property will be sold at the Sale. GBB has a first priority security interest in the Property. The total amount due to GBB is approximately $3,000,000. GBB may bid for the Property and credit bid using all or a portion of its secured claim. The Property will be sold free and clear of GBB's lien in the Property and any subordinate security interest in the Property, including any lien of subordinated lenders.