Nicole Miller gets majority investment from Gordon Brothers
Nicole Miller has received a majority investment from Boston-based global advisory and investment firm Gordon Brothers. Miller will continue to own a stake in the brand. The specific amount of the investment was not disclosed.
Nicole Miller reported they generate 250 million dollars in retail sales. The womenswear brand produces handbags, fashion jewelry, home furnishings, fragrances, and footwear.
Gordon Brothers got involved with the brand in April 2021 when they provided a secured credit facility backed by the brand’s intellectual property. This was used to help the brand fund strategic expansion initiatives. The goal of partnering with Gordon Brothers to take a majority stake is fueled by Miller’s goal of furthering global expansion. Miller will continue as chief creative officer of the brand.
While Miller wasn’t actively seeking an activist investor, she saw Gordon Brothers as an exemplary partner due to the previous relationship they have and their connections to global licensing companies. Nicole Miller is sold in Canada and South America, but most of their licensees are U.S.-based.
Nicole Miller is planning to grow their e-commerce too. This upcoming season at New York Fashion Week, she will be showing a digital presentation. Like most fashion brands, the company took a hit in 2020, but they said they saw a rebound in 2021.