News Flash! J Brand Sells for $85 Million

Our client, J Brand, sells majority share for $85 Million…

After months of negotiations, Los Angeles premium-denim maker J Brand has sold nearly 60 percent of the company for $85 million to a private equity firm.

The deal with Star Avenue Capital of Los Angeles, announced Feb. 4, means J Brand now has more resources to grow its label beyond high-end blue jeans and expand to more international markets.

“The objective was not about the money. We are very well-financed and stable,” said Jeff Rudes, the company’s co-founder and chief executive. “It was about strategic partnerships and value added.”

Under the terms of the deal, Rudes will stay on as chief executive, and Albert Schami will remain the chief operating officer. Susan Crippen, the creative director and the other co-founder, will be leaving after receiving a $7 million payout.

READ full article


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s