Zachary Prell, a men’s contemporary sportswear brand, has gotten a $15 million infusion through Series A financing from TAL Group. The investment, which constitutes “a meaningful minority stake,” according to Prell, will be used to accelerate expansion of the brand, its infrastructure and its e-commerce platform.
As part of the investment, Roger Lee, chief executive officer of TAL Group, has joined the company’s board.
Prell, who launched his collection in 2005, said his vision is “to grow our brand into a complete lifestyle collection. Marketing and advertising are key initiatives. We’re planning a budget for building our brand through targeted marketing and advertising, through both offline and online channels. This is an opportune time to tell our story, and to pursue a meaningful dialogue with new and existing customers.”
He said the company will also invest “significantly” in its own e-commerce. That will include offering “interesting and relevant editorial content about style and culture,” and a “comfortable, hassle-free environment in which to shop our collection.”
The investment will also allow the company to expand its team and add people in marketing, production and merchandising and expand beyond U.S. borders. Prell said the plan is to start with Canada and then move into Europe through international distribution partners. He said he also hopes to expand into new categories such as clothing, accessories and other products.
TAL’s Lee said the company has “closely monitored” the brand “through our multiyear manufacturing relationship and are impressed with the company’s vision for developing a compelling lifestyle brand.”
Zachary Prell is available in more than 200 high-end stores throughout the U.S. TAL Group, headquartered in Hong Kong, has manufacturing facilities in Thailand, Malaysia, Indonesia, Vietnam and China. It also operates The Apparel Group, which produces the Enro, Maker & Company, Foxcroft and Paperwhite brands.