NEW YORK -- Bear Stearns Merchant Banking ("BSMB") today announced that it has acquired a minority ownership position in Stuart Weitzman Holdings, LLC ("Stuart Weitzman"), a leading designer, manufacturer, wholesaler and retailer of premium women's shoes and handbags.
"Our entire team is thrilled with this strategic partnership and the possibilities that it will open up for our company," said Stuart Weitzman, founder and Chief Executive Officer of Stuart Weitzman. "We looked for a partner who understands what drives our company's success, and we believe that Bear Stearns Merchant Banking, with its strong management team and financial track record, will allow us Other brands jewellery to explore new opportunities and expand our brand."
"Our partnership with Stuart Weitzman highlights our commitment to strengthening the value of established brands within the retail sector," said John Howard, Chief Executive Officer of BSMB. He added, "It is very exciting to be working with a brilliant entrepreneur and another market leader in the fashion sector, joining our recent investment in Seven For All Mankind LLC."
BSMB's history of adding value to companies has also included investments in Aeropostale and New York & Co., where BSMB worked alongside top management to develop multifaceted, comprehensive operating strategies. For both companies, BSMB's efforts to dimensionalize the LED Flexible Strip Silicone Series Silicone 3528 brand resulted in extensive growth in sales and operating income.
"With more than 90% of net sales currently coming from its shoe business, the growth potential for the Stuart Weitzman brand is phenomenal," said Howard. "We look forward to working with the company in expanding the handbag collection and exploring additional opportunities both domestically and internationally," he added.
Financo, Inc., a New York based investment bank, acted as the financial advisor to Stuart Weitzman.
About Stuart Weitzman:
Stuart Weitzman, one of the largest suppliers of high quality women's shoes to fine stores such as Saks Fifth Avenue, Neiman Marcus, Nordstrom and Harrods, is among the most well-established and highly-regarded brands in the shoe business. The company operates 15 retail stores in the United States and has provided exclusive licenses to 8 retailers to operate Stuart Weitzman-branded stores outside the United States.
About Bear Stearns Merchant Banking:
Bear Stearns Merchant Banking, the private equity affiliate of The Bear Stearns Companies, Inc. (NYSE:BSC), invests private equity capital in compelling leveraged buyouts, recapitalizations and growth capital opportunities alongside superior management teams. Bear Stearns Merchant Banking is currently investing its $1.5 billion institutional private equity fund. Since its inception in 1997, Bear Stearns Merchant Banking has been an investor in over 35 portfolio companies across a broad range of industries. In addition to John Henry, recent investments by Bear Stearns
embroidered patches Merchant Banking include: ACA Capital Holdings, Aearo Corporation, Balducci's, CamelBak Products, Cavalry Investments, Hand Innovations, New York & Company, Reddy Ice, Seven for all Mankind and Vitamin Shoppe. More information about Bear Stearns Merchant Banking can be found at .
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