The facility is secured by Miller’s intellectual property and will be used to fund strategic growth initiatives.
“Being able to work with an iconic brand and designer like Nicole Miller is at the core of what we do at Gordon Brothers,” said Tobias Nanda, president of brands. “Throughout our decades-long history of financing consumer brands, we have become the expert in identifying those with significant value and helping to unlock that value for our partners.”
Miller, who continues to own the company, said, “Over the past 30 years we have successfully developed Nicole Miller into a leading lifestyle brand by bringing our unique design aesthetic to the ever-changing world of fashion, accessories and home decor. Gordon Brothers understands the value of our business, and we are excited to partner with them as we continue to expand and grow.”
Nanda told WWD that they are investing in Miller’s business and have been working with the company for a number of months. Among the strategic growth initiatives will be expanding into some new categories, which he declined to divulge, over the next nine to 12 months. In addition, they look to expand the business into new territories, such as the U.K., continental Europe and Asia; grow Miller’s own e-commerce business, and support their licensees’ direct to consumer business.
For the most part, they plan to work with Miller on the licensing side and extend that area of the business. Nanda declined to reveal the size of the credit facility.
“We don’t own a stake in Nicole Miller,” Nanda said. He said they’re loaning them money and trying to help them with strategic decisions. He said Gordon Brothers, which has a reputation for helping distressed companies and those going through a transition, also invests and lends money to healthy companies, which Nicole Miller is.
Miller, which manufactures a women’s wear collection, has numerous licensees in such categories as handbags, shoes, jewelry, eyewear, denim, activewear, sleepwear, children, fragrance and beauty, and home. The brand is sold in more than 1,500 specialty and department stores worldwide.
Boston-based Gordon Brothers’ most recent global brand transactions include bridge financing for Brooks Brothers, which was acquired by Authentic Brands Group; the acquisition of Laura Ashley and the launch of its new collection, and the sale of British brand Bench to Wraith, an affiliate of Apparel Brands Ltd. Gordon Brothers has been actively investing in brands since 2003, partnering with such companies as Sharper Image, Linens ‘N Things, Wet Seal and Ben Sherman.
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