Dutch LLC, parent company of premium fashion brands Equipment, Joie and Current/Elliott, has sold a 60% stake in the business to US private equity firm TA Associates.
Although the actual value of the investment is undisclosed, it is thought the additional capital will be used to support the growth of all three of Dutch’s brands and increase their footprint worldwide.
The brands owned by Dutch are sold in more than 2,000 stores in 75 countries worldwide, including high-end department stores such as Saks Fifth Avenue, Nordstrom, Harvey Nichols and Selfridges.
The Joie and Equipment brands also sell through six standalone boutiques in the US as well as via recently launched transactional websites.
“We believe the Dutch brands are well positioned to become leading lifestyle brands in the contemporary segment,” said James Hart, principal at TA Associates.
“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 market.”
Serge Azria, chief executive and creative director of Dutch, added: “Out of the numerous offers we received, we chose TA because of their reputation, credibility and strength. They are a firm with a long and successful track record in the consumer industry.
“Our team has delivered tremendous and consistent growth throughout the recent consumer recession by delivering great design to the premium customer as a new luxury.”