Los Angeles-based Brentwood Associates, a leading consumer-focused private equity investment firm, has announced that it has acquired, through its affiliates, the Boston Proper direct-to-consumer business from Chico's FAS, Inc.
Terms of the agreement were not disclosed. Boston Proper is a Boca Raton, Florida-based multi-channel retailer of women's apparel and accessories, offering distinctive products with a focus on quality and style. In partnership with existing Boston Proper management, including Boston Proper President and Chief Merchandising Officer Sheryl Clark, Brentwood will refocus on building a unique and compelling direct-to-consumer lifestyle brand through Boston Proper's print, digital and social channels.
“Boston Proper has been catering to a very particular niche for nearly 25 years. The demographic can best be described by its attitude – 'wear it like no one else',” explained Clark. “We will reignite the passion around the brand, strengthen the quality of our service and further enhance the personal relationships that drive our business. Everyone changes. We've changed. Our customer has changed. The world has changed. But our core attitude is still there. We've started the conversation with our customers, and they're eager to join us on this journey of growth and rediscovery.”
“Brentwood brings an extraordinary level of relevant experience and strategic insight to our company,” Clark noted. “They not only have a proven track record of success with our business model, but they also have a strong understanding of who we are and a like-minded vision of where we want to go.”
“Brentwood has been a loyal and longstanding fan of Boston Proper and its management team, having tracked the business for over a decade,” said Eric Reiter, a partner at Brentwood. “They occupy a unique and compelling niche within the women's apparel and accessory market, and we believe we can be a valuable partner in their next stage of growth.”
“We see tremendous opportunity in Boston Proper's direct-to-consumer channels, as the focus shifts back towards the brand's unique customer value proposition," said Roger Goddu, another partner with Brentwood Associates.(SH)
Fibre2Fashion News Desk - India