- Marjorie van Elven |
Private equity firm Eurazeo has announced an investment of 25 million US dollars in the American multi-brand activewear retailer Bandier, raising the total capital raised by the company to 34.4 million US dollars. The investment was made by Eurazeo Brands, a division within the global investment company which aims to inject a total of 800 million US dollars into consumer and retail brands with “global growth potential” in the beauty, fashion, wellness, home, leisure and food categories.
“Bandier is at the forefront of the activewear movement and is well positioned to gain meaningful market share in this fast-growing sector”, said Eurazeo Brands’ CEO Jill Granoff in a statement. “By leveraging out respective capabilities, we will drive product and digital expansion and become the destination for luxury activewear globally”. Currently, Bandier operates seven stores in the United States. “Eurazeo Brands’ retail expertise and global approach make them the perfect partner for our next phase of growth”, added Bandier’s Co-founder and Chairman Neil Boyarsky.
Bandier also intends to use the funds to enhance its executive team: the first senior appointment is Adrienne Lazarus, who has been confirmed as the company’s new CEO. Lazarus will join Bandier from shoe and leather accessories manufacturer Frye, where she served as CEO. Prior to that role, she worked as President of Intermix, a chain of designer boutiques founded in 1993 and acquired by Gap Inc.
Founded in 2014 by former music executive Jennifer Bandier, Bandier aims to offer accessible and stylish activewear apparel. The company is headquartered in New York, with store locations in the same city, as well as Texas and Los Angeles.