Private equity firm L Catterton said it has acquired premium children's apparel and lifestyle brand Hanna Andersson, which since more than 30 years offers Swedish inspired children's clothing.
“Over the last ten years, Hanna Andersson has graduated from a catalogue brand to become a growing premium brand in the children's specialty apparel category,” L Catterton said.
With a successful omni-channel platform, Hanna Andersson has been generating double-digit annual revenue growth since 2010 through a combination of its catalogue, e-commerce and store outlets.
L Catterton will help Hanna Andersson to rapidly expand its retail store presence by adding to its footprint both domestically and internationally over the coming years.
Nik Thukral, co-managing partner at L Catterton said, "Hanna Andersson is primed for even greater expansion as it continues to enhance its traditional product categories while adding new offerings.”
L Catterton has significant experience investing in premium retail brands and its investments include Pirch, Sweaty Betty, Worth, Tabi, Restoration Hardware, Baccarat, John Hardy, and Sandro & Maje. (AR)
Fibre2fashion News Desk - India