Xcel Brands, Inc. , a media and consumer products company, is set to join the Russell Microcap Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, according to a preliminary list of additions posted June 4.
Robert W. D’Loren, Chairman and Chief Executive Officer of Xcel commented, “Joining the Russell Microcap Index is the latest step in our evolution and demonstrates our success navigating the significant impacts the COVID-19 pandemic had on the apparel industry. As we emerge from the crisis, positive momentum is underway driven by our strong brands, innovative business model, and robust balance sheet and capital position. Throughout 2021 we are focused on expanding and growing our business, and we are seeing green shoots appear across all our channels of distribution. I look forward to our inclusion in the Russell Microcap Index and expanding Xcel Brands to a greater audience of investors.”
Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
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Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.