Santa Monica, Calif.-based investment bank, Lion Capital, has acquired an undisclosed stake in the denim company from owners TSG Consumer Partners. Lion is a consumer-focused private equity firm with investments in AllSaints, Jimmy Choo and John Varvatos.
Launched in 2004 by Paige Adams-Geller, the denim label has become a favorite of fashion bloggers and influencers. The brand has distribution at high-end specialty boutiques and premium department stores, including Saks Fifth Avenue, Neiman Marcus, Nordstrom, and Bloomingdale’s in the U.S., and international shopping destinations such as Harrods and Selfridges in the U.K.
Paige reports that it is also driving tremendous growth and success in its direct-to-retail assets, including its portfolio of company-owned retail stores across the U.S., and a fast-growing e-commerce site.
The existing management team will continue running the business in their current roles and will leverage Lion Capital’s retail and e-commerce expertise to continue expanding its direct-to-consumer initiatives.
The Sage Group initiated the transaction and advised Paige in the sale. This transaction marks Sage’s second engagement with the company, as the firm also advised the Paige founders on their transaction with TSG in 2012.