Three brands in the specialty apparel retail industry have been brought together in the KnitWell Group, a new holding company formed by private equity firm Sycamore Partners.
With three apparel brands under its umbrella — Ann Taylor, Loft and Talbots — KnitWell Group generates combined annual sales of over $3 billion, the holding company said in a Wednesday (Aug. 30) press release. In addition to this trio of brands, KnitWell Group will also continue to oversee the plus-size women’s apparel brand Lane Bryant.
Leading the KnitWell Group is Lizanne Kindler, the current CEO of Talbots, who will serve as the executive chair and CEO, according to the release. Kindler is joined by a team of retail executives, all dedicated to understanding and fulfilling the needs of customers across the KnitWell Group brands.
“Brands are propelled by a deep and meaningful connection with the customers they serve, and that is where we start and end each day,” Kindler said in the release. “With that as our North Star, we know that this new structure will support our efforts to unite brands and people by providing greater resources and capabilities, economies of scale and enhanced value.”
The name “KnitWell Group” reflects the company’s belief that each brand within its portfolio is “distinctive” on its own. However, when combined, they create a retail “powerhouse” capable of providing customers with the fashions they desire, the release said.
Stefan Kaluzny, managing director of Sycamore Partners, said in the release that Kindler and the team have revived and grown “these iconic American brands” over the last decade.
“The consistent and focused approach, which leverages the replicable playbook this team has developed, is laying the foundation of success not only for the brands currently part of the KnitWell portfolio, but also for potential future brands,” Kaluzny said in the release.
Some other apparel brands have made changes recently as well.
On July 6, specialty apparel company Gap appointed Mattel veteran Richard Dickson as its president and CEO, effective Aug. 22. Gap Lead Independent Director Mayo A. Shattuck III said at the time that Dickson will provide leadership “as the company redefines the future potential of Gap Inc. and its renowned American fashion brands.”
About three weeks later, apparel brand Victoria’s Secret said it would present a “re-imagined fashion show” on Amazon’s Prime Video Sept. 26. A tour-inspired collection will be available for sale following the show’s release.
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