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.
- Marks & Spencer to extend mobile phone monitoring
- China tightens on corporate social responsibility
- Tesco's H1 profit plunge: What the analysts say
- Asos FY profit drop: What the analysts say
- Who has signed the Bangladesh safety accord?
- Cambodia clothing factory collapse injures eight
- Adidas "Reebok sale" would be admittance of defeat
- H&M and The North Face commit to responsible down
- Bangladesh taps factory inspectors ahead of review
- Collapsed Cambodia factory had structural issues
- Ethiopia – the emerging textile and clothing industry
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Vietnam
- Wool in the 21st Century: new prospects for a familiar fibre