Marigay McKee has invested in premium womenswear brand Needle & Thread and joined its board of directors.
McKee was formerly president of Saks Fifth Avenue and chief merchant at Harrods. She left Saks in 2014 and set up MM Luxe Consulting. This is her first fashion investment.
Needle & Thread is run by Hannah Coffin, who was womenswear design director at All Saints for eight years until 2012 and previously worked at Karen Millen. Stockists include Harrods, Liberty, Net-A-Porter, Zalando, Shopbop, Revolve Clothing, Neiman Marcus, Nordstrom and Lane Crawford.
The brand launched its own ecommerce site in September last year and launched its first bridal collection for spring 16.
It specialises in heavily embellished dresses, skirts and tops, priced from £65 to £450, while the bridal range is priced from £105 to £850.
McKee told Drapers: “I have known Hannah for several years now, and always been impressed by her talent and her work ethic and her personal style and attitude.
“When she launched Needle & Thread three years ago, she called me to come and see the line before showing it to anyone else and I loved it. Needle & Thread fitted a niche: it was gorgeous beaded eveningwear at a contemporary price point.
“We went on to retail it at Harrods in the UK and subsequently at Saks in the US, where it performed well. It sat well adjacent to young feminine contemporary brands like Self Portrait, A Piece Apart, Ulla Johnson and others in that price bracket.
“I helped her find an initial distributor for the US and a showroom and we started to talk about my future involvement in the business aside from consulting – and that led to an investment.”