- Sara Ehlers |
Florida-based Boston Proper is no longer the property of Chico’s FAS Inc. Los Angeles-based firm Brentwood Associates recently acquired the women’s fashion brand from Chico’s in an agreed business transaction.
Boston Proper currently sells sensible chic clothing including blouses, pants, knit tops, maxi dresses, and more. According to WWD, Brentwood Associates acquired the brand from Chico’s. However, terms of the deal were not disclosed to the public. Sheryl Clark, chief merchandising officer and president of the company will oversee Boston Proper’s management and will lead the team to executive Boston Proper.
The reason that Brentwood Associates picked up the brand was due to its catered audience and unique clothing. In addition, it seems that Chico’s did not meet the brand’s desired needs. Under Chico’s, the brand had net sales of 95.8 million in fiscal 2014 according to the trade publication. “Despite the fact that the partnership with Chico’s failed to meet expectations, we have no doubt that [our team will] executive Boston Proper,” Eric Reiter, a partner at Brentwood Associates, told WWD.