By  on March 11, 2016

Thom Browne has a new backer. Sandbridge Capital, the private equity firm affiliated with Tommy Hilfiger, has acquired a majority stake in Thom Browne New York from Japan’s Stripe International, formerly the Cross Company, which became involved with Browne’s business in 2009. Cross initially took a 20 percent stake in the company and upped it to a 67 percent controlling interest later that year.

Speculation that Cross was looking to sell its stake in Thom Browne surfaced last year with Sandbridge as a potential suitor. The New York-based consumer and retail-focused firm was formed in 2012 with the involvement of a group of fashion industry heavyweights, including Hilfiger and former Gucci Group chief executive officer Domenico De Sole, who are both senior advisers to the firm. Sandbridge’s stable already includes stakes in Derek Lam, Tamara Mellon, Farfetch, Rossignol, Topshop and Karl Lagerfeld.

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