- Sara Ehlers |
The Knot Standard is headed towards growth in 2018. The New York-based men's brand just received an investment from growth equity investment first Provenance.
The omnichannel custom brand has labeled the investment as a significant minor, according to a press release from the company. Established in 2010, the Knot Standard currently has grown to have approximately seven showrooms spread throughout the U.S. The label plans to grow with more expansion in the future as well. "Knot Standard created an extraordinarily loyal and valuable customer following in the premium/luxury segment of custom men's apparel, with a true omnichannel system and culture," Anthony Choe, founder of Provenance, said in a statement. "We're proud to partner with the company to replicate their success in other markets throughout the country."
The made-to-measure custom suit company currently has "extraordinary" repeat customer and revenue rates in the apparel industry, according to a press release. "Provenance brings tremendous insight as we embark on the next level of growth," Knot Standard CEO and co-founder John Ballay said in a statement. "Their approach to create value through customer analytics is unparalleled in the investment community." Terms of the official investment deal were not disclosed. However, in bringing in more investments, it seems that the Knot Standard is headed in the right direction for growth.