Brentwood Associates has invested nearly $50 million in Saxx, the Vancouver-based men’s underwear line.According to Tim Bartels, Saxx’s chief executive officer, the company, with help from investment banking firm Lazard Middle Market, started looking for investors about nine months ago.“For us it was about finding the right partner. It wasn’t about the equity raised,” said Bartels. “It was about finding someone who has had a track record of partnering with brands and helping them accelerate their growth and they [Brentwood] were the best fit given their track record.”Saxx is the ninth investment by Brentwood Associates’ latest fund, Brentwood Associates Private Equity V, L.P., which has also invested in Allen Edmonds, Ariat International, Filson, J.McLaughlin, Soft Surroundings and Sundance Catalog.“Saxx fits perfectly with our strategy of investing in growing lifestyle brands that foster consistently high customer loyalty, while delivering strong profitable growth,” said Eric Reiter, partner at Brentwood. “We will continue to support the company in such areas as product innovation, targeted print and digital marketing, and operational excellence across its global distribution and fulfillment platform.”Bartels, who previously worked for Columbia Sportswear, Keen, DC Shoes and Nike, said the investment will be used to grow Saxx’s product offering to categories such as socks, expand international distribution, promote product innovation and improve e-commerce operations. Introducing women’s is also on his radar.Saxx, which is sold at retailers including Nordstrom along with active stores, intimate apparel shops and contemporary men’s wear boutiques, produces underwear, T-shirts and other base layers that cater to an active customer. The brand was founded by former baseball player Trent Kitsch in 2006 and offers internal mesh panels in the underwear.In 2010 the company was acquired by a group of private investors, who are still the majority shareholders.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)