Pegasus Capital Advisors has become a partner in beauty brand Carol's Daughter, setting the stage for an investment-driven expansion that is aimed at growing the business as much as tenfold over the next few years.
Pegasus, based in Greenwich, Conn., has made available $50 million of the group's investment funds, said sources, allowing Carol's Daughter to open more stores, sharply focus its online platform and recruit marketing and operational talent to build the brand's infrastructure. "The popularity of the multiethnic market has been long ignored, and it is a huge opportunity," said Steve Stoute, who is Carol's Daughter's chairman, during an interview at his Manhattan offices. "Our partnership with Pegasus gives us the opportunity to take my vision and Lisa's [Price, Carol's Daughter's founder] to another level."
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"