US: TA Associates buys fashion brand owner Dutch
Private equity firm TA Associates has taken a majority 60% stake in Dutch LLC, the parent company of upmarket contemporary fashion brands Joie, Equipment and Current/Elliott.
"With the recent addition of e-commerce and company-owned retail boutiques, we believe that the Dutch brands are well positioned to become leading lifestyle brands in the contemporary segment," said James Hart, a principal at TA Associates who will join the company's board of directors.
"In this partnership, we are looking to support the growth of the Dutch brand portfolio and work with the long-time management team and retail and distribution partners to continue increasing the brands' footprints, collections and overall profile in the marketplace."
The Dutch company has experienced in excess of 30% revenue and profit growth each year over the last five years, with its brands sold in more than 2,000 stores in 75 countries.
"Dutch has developed partnerships with the most prestigious department stores and specialty shops worldwide and we look forward to maintaining and helping grow these relationships further," Hart added.
Serge Azria, CEO and creative director of Dutch LLC, will remain CEO of Dutch following TA's investment.
Terms of the investment were not disclosed.
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