- Kristopher Fraser |
New York - Stallion Inc. has become a new majority investor in luxury brand J. Mendel. They acquired the stake from Gores Group, the L.A. private equity firm. Stallion Inc. will be joining existing shareholders Gilles Mendel, CEO, Creative Director, and fifth-generation family member, who will retain a significant stake in the fashion house.
Stallion is run by luxury furriers Peter and John Georgiades, who also have stake in luxury brand Dennis Basso.
“Stallion Inc. is extremely pleased to be partnering with J.Mendel, a brand we have long admired, and in which we see enormous potential. Our goal is to support its growth as a luxury fashion brand, one with a uniquely rich heritage and refined design sensibility, completely independent and distinct from the other investments in our portfolio,” John Georgiades said in a statement.
Stallion to help J. Mendel grow their business
J. Mendel generates 30 million dollars in revenue between their ready-to-wear, furs, and accessories. Since 2010, Gores has been an investor in J. Mendel. The brand became Gores' first luxury acquistion when they purchased it, but they didn't put forth enough capital to make it successful, and quickly lost patience with it.
Under Gores' ownership, J. Mendel expanded their retail presence in existing locations in New York and at Harrod's department store in London. The company also expanded their bridal and accessories presence and categories, and also remodeled their wholesale distribution business. In addition, they opened two new boutiques in Seoul, South Korea under a new partnership.
J. Mendel President and CEO Marc Curie has made clear that no major corporate changes will be made when the new structure comes into place.
While J. Mendel has a huge media presence thanks to public figures like Michelle Obama, Jessica Lange, and Claire Danes wearing their clothes, the brand needed more capital to help grow their business. With the new injection of capital, the company will hopefully be able to expand their presence overseas, and grow their brand in the U.S. as they attempt to become a power player in the luxury market.