Victor Alfaro has taken a pair of minority investors with a new partnership with Grand Crossing Capital LLC and Dallimore & Co. to expand the designer ready-to wear, shoes and handbag collection he relaunched in 2013.
“I have been taking my time trying to find the right partners and I really like the guys I invited in,” Alfaro said. “Obviously I didn’t want to fall into the problems from the past. I was very careful and discerning.” The latter statement was a reference to his ill-fated partnership with Gilmar, which ended with him shuttering his business in 2003 after becoming a young star on the American fashion scene in the Nineties.
Alfaro bought back his trademark and rebooted the brand independently nearly two years ago. In looking for partners, he was only interested in selling a minority stake. The appeal of Grand Crossing Capital and Dallimore was their financial expertise.
“They’re finance people who understand my industry,” said Alfaro, whose first order of business was hiring a vice president of sales. Paul Giordano is joining the company from 3.1 Phillip Lim, where he was senior director of sales. His previous experience includes a vice president of sales position at Prada USA.
The Victor Alfaro collection is sold at Barneys New York, Net-a-porter, Lane Crawford and The Room at Hudson’s Bay.