Luxury jewelry brand John Hardy, which was backed by 3i, has been acquired by Catterton. No financial terms were disclosed. Also, the company has named Robert Hanson as CEO. The appointment is effective immediately.
NEW YORK, July 31, 2014 /PRNewswire/ — John Hardy, a leading luxury designer jewelry brand, today announced that it has been acquired by Catterton, the leading consumer-focused private equity firm. Terms of the transaction were not disclosed.
Founded in 1975, John Hardy is a luxury designer jewelry brand known for its handmade craftsmanship, and iconic designs within its collection. The Company is a pioneer in sustainable luxury and uniquely positioned as the leading designer brand for which each piece is intricately handcrafted and one-of-a-kind. John Hardy’s recognizable and distinctive jewelry enjoys a loyal customer base and a top-tier, multi-channel distribution footprint, with collections available at more than 600 retail locations across 27 countries and regions, including world-renowned department stores such as Neiman Marcus, Saks Fifth Avenue, Bloomingdale’s, Harrods and Lane Crawford and stand-alone stores in Hong Kong, Jakarta and Bali. John Hardy recently signed supermodel Cara Delevingne to be the face of its new jewelry campaign.
The Company has appointed Robert Hanson as Chief Executive Officer, effective immediately. Mr. Hanson brings more than 25 years of brand development and retail experience to John Hardy, including with American Eagle Outfitters, Inc., where he served as Chief Executive Officer, and Levi Strauss & Co., where he served as Global President of Levi’s. Damien Dernoncourt, who has served as John Hardy’s Chief Executive Officer since 2007, will retain an equity stake in the Company and has been named Non-Executive Chairman, to which he will devote his full professional time. Guy Bedarida will continue to serve as Creative Director and Head Designer and Miles Graham will continue to serve as President and Chief Operating Officer.
“John Hardy is pleased to partner with Catterton, which will provide the support and resources to continue building our brand and accelerate our growth on an international scale,” said Mr. Dernoncourt. “I am confident that under Robert’s leadership and together with Catterton, we will enhance our status as a leading designer of unique handmade jewelry while maintaining our Company’s strong core values and luxury positioning. I am excited to be working with Catterton, Robert, and the entire John Hardy team as we grow and build on our success.”
Mr. Hanson said, “John Hardy is an iconic luxury brand with a loyal customer following, and I have been impressed with the strength of the brand under Damien’s leadership. I look forward to leading the Company and building upon its tradition of creating truly unique, authentic designs and providing outstanding customer service. John Hardy is well known for its distinctive style, extraordinary quality and commitment to handcrafted sustainable luxury. These key pillars will continue to be the cornerstone of our Company and our future success. With Catterton’s well-established track record for partnering with leading brands to help them capitalize on growth opportunities, I believe that John Hardy has significant potential and a bright future.”
Michael Chu, Managing Partner at Catterton, said, “Catterton is excited to partner with a differentiated brand with a strong heritage and a top-tier, multi-channel distribution footprint. With Catterton, John Hardy will have a robust platform to enhance its already exceptional brand and accelerate its growth trajectory. We are confident that John Hardy offers substantial upside through multiple paths for expansion, and look forward to working with Robert and the entire team at John Hardy to capitalize on new market opportunities and realize the Company’s significant potential.”
Catterton has partnered with luxury brands including Restoration Hardware, Baccarat, PIRCH, and Frederic Fekkai to name a few.
About John Hardy
One of a kind. One piece at a time. Each by hand. John Hardy is an authentic handmade jewelry brand reshaping the experience of luxury through a heritage of artisanal design, craftsmanship and ongoing sustainable practices. For more information, visit www.johnhardy.com.
Catterton is the leading consumer-focused private equity firm with more than $4.0 billion currently under management and a twenty-five year track record of success in building high growth companies. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. Catterton invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services. Catterton’s investments include: Restoration Hardware, Baccarat, PIRCH, Outback Steakhouse, Sweet Leaf Tea, Noodles & Company, PIADA, Heartland RV, Frederic Fekkai, Build-A-Bear Workshop, Wellness and Nature’s Variety pet foods, Kettle Foods, Odwalla and P.F. Chang’s, to name a few. More information about Catterton can be found at www.cpequity.com.