Khaite is bringing its love of the nightlife scene — and all the inherent mixing and mingling — to the investment scene.
The buzzy brand founded by creative director Catherine Holstein has been out talking to would-be investors and considering a possible sale, sources told WWD.
“Khaite has grown very quickly as the brand has become more and more popular with its customers and retail partners,” the company said in response to a query. “In addition, investors have expressed interest in the company since its founding with Assembled Brands in 2016.
“As we seek to further scale the Khaite brand, the company is evaluating investment options to fuel the next stage of growth and has no further comment to make beyond this statement at this time,” the company added.
After a flurry of IPOs from next-gen darlings like Warby Parker and Allbirds last year, the dealmaking scene has been quiet this year and doubly so for apparel. Still, brands have been out and about testing the waters, including A.L.C., which is said to be exploring its own options with the help of investment bank Rothschild & Co.
Part of that comes from the economy — be it the threat of recession, ultra-high inflation, supply chain back ups, war, pandemic or something else.
And part of that is because private equity players that specialize in scooping up developing brands and supercharging them before selling them to someone else are finding fewer ready buyers.
But good brands find a way forward — even if it can sometimes take a while to connect with the right partner.
And Khaite has both buzz and a drive forward.
Holstein said last month that retail was on the horizon.
“It’s a big discussion now in the company, and we think it will be important for the brand…to express the feeling of New York across many other cities,” she said while going over her resort 2023 collection.
The designer is also clued into digital, of course, and connecting that with her own love of going out.
“Now, Instagram is the new nightlife and people are more voyeuristic, but you used to have to go to the club to see what was going on,” she said.