Home essentials direct-to-consumer (D2C) brand Brooklinen, which offers products such as sheets and bath towels, has notched an investment from private equity firm Freeman Spogli & Co. Details of the transaction were not released an announcement of the funding.
“This year we’ve doubled down on our commitment to provide comfort to our customers, and this investment will help us continue to reach them both online and in-person through our expanding retail fleet,” Brooklinen Co-Founder and CEO Rich Fulop said in the announcement.
Brooklinen, which is based in Brooklyn, N.Y. and was established in 2014, says it provides high-end sheets and merchandise for the home “at a reasonable price.”
The firm grew its collection of merchandise from the bedroom to encompass accessories, loungewear and bath in addition to its home goods marketplace, Spaces.
Moreover, Brooklinen brought its inaugural retail location to Brooklyn last year.
“Brooklinen’s unique value proposition has resulted in strong growth, impressive profitability and brand loyalty,” Ben Geiger, a partner at Freeman Spogli, said in the announcement.
Geiger said the firm plans to harness its “extensive experience with consumer growth concepts to help the business successfully execute upon its future growth and operating initiatives.”
Summit Partners will keep an equity stake in Brooklinen. It had invested in the company early last year, according to the announcement.
In separate news, The Citizenry, a D2C artisan home décor brand, is making a post-pandemic pivot to brick-and-mortar retail locations on the heels of a year of quick growth powered by the nesting trend brought about by the pandemic.
The physical retail transformation was included in the firm’s Tuesday (June 29) release announcing it had landed a $20 million investment from consumer goods private equity firm NextWorld Evergreen.
Established in 2014, The Citizenry teams with artisans globally to curate collections of home goods.
In growing its furniture line, Citizenry Co-Founder Rachel Bentley previously told PYMNTS that the brand is bolstering access to “thoughtfully-crafted” items at an affordable luxury price point — something that shoppers have been clamoring for.
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