NIC + ZOE + RAPTOR: Raptor Consumer Partners scooped up a minority stake in Nic + Zoe — a women’s wholesale brand that focuses on the 35-plus crowd. Financial details of the transaction were not disclosed, but the investment group’s managing director, John Burns, has joined Nic + Zoe’s board. The seven-year-old brand has wholesale revenues of about $50 million and is sold through Nordstorm and more than 800 specialty stores. As part of the deal, the Lipman creative agency will be helping out the areas of marketing, branding, advertising and design.
Andrew Spellman, managing director at Raptor and chief executive officer of Lipman, said consumers buy Nic + Zoe because they like the product, not because of its brand presence. “Our job is really to give it voice and give it the recognition that it definitely deserves,” he said. Nic + Zoe ceo Susie Mulder added, “The plan is build out both in the U.S. as well as in Canada, across a wide range of distribution — more majors, continue to grow specialty.” Wholesale prices on the knit-heavy collection range from $45 to $69.
This story first appeared in the June 29, 2012 issue of WWD. Subscribe Today.