Thom Browne taken over by Sandbridge Capital
Sandbridge Capital is Thom Browne's new majority shareholder. The men's and women's ready-to-wear brand launched in 2003 by the eponymous New York designer was owned since 2009 by Japanese group Cross Company, with a 67% shareholding.
Cross Company has now sold a majority stake in the brand to US investment fund Sandbridge Capital, which includes among its members Tommy Hilfiger and Gucci's former owner, Domenico De Sole. The latter two are also to be involved in the fashion label's new management as advisors.
The information was revealed in an interview with WWD by Ken Suslow, Managing Director of Sandbridge and future non-executive President of Thom Browne. Sandbridge Capital thus became the brand's majority shareholder, while Cross Company still keeps a small stake in the label.
Nothing else has been revealed about the amount of the transaction or the operation itself, which is set to be finalised by the end of March.
New York-based investment fund Sandbridge Capital features in its portfolio several fashion and distribution companies: Derek Lam, Tamara Mellon, Farfetch, Rossignol, Topshop and Karl Lagerfeld.
Copyright © 2021 FashionNetwork.com All rights reserved.