Khaite snaps up new investment partner to support next growth chapter

New York brand Khaite has reportedly secured a new investment partner to support its next stage of growth.

Stripes is believed to be the growth equity firm behind the move, set to provide funding that will help Khaite embark on a new chapter of business.

Founder of the brand, Catherine Holstein, told WWD: “This is an exciting chapter for Khaite.

“After opening the first store on Mercer Street in February, we are strategically looking ahead to continue to grow and strengthen our presence on a global scale.”

Stripes already has a strong foothold in the industry, with past investments in the likes of intimates brand Parada and footwear company On.

Its operating partner, Brigitte Kleine, has also served as president at Tory Burch, Michael Kors and Alexander McQueen, among others.

Founded back in 2016, Holstein launched Khaite alongside an initial investment from Adam Pritzker of Assembled Brands, who told WWD that Stripes would be “leading the next phase for this company”.

Pritzker added: “Co-founding and building Khaite has been an honour. In partnership with Cate, we accomplished the extremely audacious goal of building the foremost American luxury brand.

“The next stage of investment will further accelerate Khaite’s expansion and ensure greater visibility for an already iconic brand that is redefining American luxury.”