Gen Z underwear brand Parade has been sold to lingerie manufacturer Ariela & Associates International. Founder and CEO Cami Téllez told staffers via Slack that she might be forced to leave the company. The Gen Z-favorite underwear startup Parade struck a deal to be acquired by the lingerie manufacturer Ariela & Associates International on Monday afternoon, Cami Téllez, the company's cofounder and CEO, told Insider. In the message, Parade employees were informed that meetings with AAI associates would be placed on their calendars so the team could better understand how their roles functioned. In March, Parade inked a deal with Target to be sold in nearly 400 of its stores nationwide.

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Persons: Cami Téllez, Slack, Téllez, Jack DeFuria, Friday's Slack, Ariela Esquenazi Organizations: Ariela, Associates International, Associates, AAI, Columbia University, cofound, AAi, Stripes, Greycroft Partners, Target