Company is now a $6 billion Powerhouse in the Women’s Specialty Retail Apparel Space
NEW YORK, Jan. 5, 2024 /PRNewswire/ — KnitWell Group (“KnitWell”), a company comprising industry-leading apparel brands Ann Taylor, LOFT, and Talbots, today announced it has added Chico’s, White House Black Market and Soma to its portfolio. KnitWell also provides oversight and shared services to Lane Bryant, a leading plus-size women’s apparel brand. This combination follows the sale of Chico’s FAS to Sycamore Partners, a leading private equity firm specializing in consumer, distribution, and retail-related investments.
“KnitWell is a best-in-class operating enterprise in the world of vertical specialty retail, comprising some of America’s most iconic brands, committed to instilling confidence in the women they serve,” said Lizanne Kindler, Executive Chair and Chief Executive Officer of KnitWell Group. “Chico’s, White House Black Market and Soma fit perfectly into the portfolio as established and inspiring brands that generate sustainable, high-quality results. We are thrilled to welcome these brands, their more than 14,000 associates and their customers to the KnitWell family.”
With the addition of Chico’s, White House Black Market and Soma, KnitWell’s brands generate approximately $6 billion in annual sales, further solidifying its position as one of the largest specialty apparel companies in the United States.
Adds Ms. Kindler, “There is so much opportunity that comes with being part of this larger family of brands in terms of sharing best practices, innovation, and an incredible runway for growth and development, as well as efficiencies and leverage that come from size and scale with eight of the best retail apparel brands in the country. This is a great day and we cannot wait to get started.”
Contacts
Sycamore Partners
Michael Freitag or Lyle Weston
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[email protected]
SOURCE Sycamore Partners; KnitWell Group
Originally published at https://www.prnewswire.com/news-releases/knitwell-group-adds-chicos-white-house-black-market-and-soma-302027182.html
Some images courtesy of https://pixabay.com
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Fashion - Beauty News originally published at Fashion - Beauty News