Mrs. John L. Strong, the 80-year-old luxury stationery brand, has a new partner to fuel growth.
This story first appeared in the October 6, 2008 issue of WWD. Subscribe Today.
Circle Peak Capital, a New York private equity firm, has taken a minority interest in the company, Nannette Brown, chief executive officer and owner, disclosed last week.
“This has been a very society-driven, very social company for many years,” said Brown. “In the past few years we have expanded the offering to include diaries, notebooks, directories. With our new partner, there will be a continuation of growth in that sector, and you will see us roll out both stores and shop-in-shops.”
“Mrs. John L. Strong represents a unique investment opportunity in a growing sector of the luxury market,” said Circle Peak Capital founder and ceo R. Adam Smith. “Circle Peak Capital is excited to be working alongside a motivated management team to realize this brand’s full, long-term potential.”
Brown noted that Point One Percent, a branding firm, made a small investment in the company and will be helping to further the strategy.
Mrs. John L. Strong was founded in New York City in 1929, and is known for hand-engraved stationery for New York’s social set. World leaders, American presidents, royal families and celebrities have all used Mrs. Strong’s papers. Brown acquired the firm about six years ago.
Circle Peak Capital’s investments includes and Luxury Optical Holdings Co.