H.I.G. Growth Partners has invested in LuLu’s Fashion Lounge, an e-commerce retailer of young women’s apparel, shoes and accessories. H.I.G. partnered with LuLu’s owners Colleen Winter and Debra Cannon on the transaction. John Kim and Evan Karp from H.I.G. will join LuLu’s board of directors as part of the deal.
H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, announced that it has partnered with Colleen Winter and Debra Cannon, the owners of LuLu*s Fashion Lounge (“LuLu*s”, or the “Company”), to make a strategic investment in the Company. Founded in 1996, LuLu*s is a rapidly growing e-commerce retailer of young women’s apparel, shoes and accessories.
Headquartered in CA, LuLu*s has emerged as the online style destination of choice for trendsetters worldwide. The Company delivers a superior experience to consumers by curating a unique product assortment that includes the coveted LuLu*s label, emerging new designers and favorite go-to brands. LuLu*s has leveraged this differentiated merchandising strategy to foster a highly-engaged and loyal customer base.
Co-Founder and CEO, Colleen Winter said, “We are very excited about this partnership with H.I.G. and the shared vision we have for the next stage of LuLu*s growth. H.I.G.’s investment will provide us the capital and strategic resources necessary to grow the LuLu*s brand.”
John Kim, a Managing Director with H.I.G. Growth Partners, commented, “LuLu*s is an emerging market leader that provides tremendous value to consumers and suppliers in the fastest-growing segment of e-commerce. We are excited to partner with Colleen, Debra and the entire LuLu*s team to continue the Company’s strong growth trajectory, grow the LuLu*s brand, and introduce the LuLu*s experience to an even greater audience of consumers.”
As part of the investment, John Kim and Evan Karp from H.I.G. Growth Partners will join the LuLu*s Board of Directors. The Company has also named to its Board Shelley Nandkeolyar, who brings over 20 years of experience that span both apparel and direct-to-consumer e-commerce, including serving as President of Home Depot Direct Brands, VP of e-Commerce at Williams-Sonoma and President/CEO roles at several apparel retailers.
About Lulu*s Fashion Lounge
From humble beginnings, LuLu*s was founded by the mother/daughter team of Debra Cannon and Colleen Winter in 1996, starting as a vintage boutique in Chico, CA that transitioned purely online in 2008. Leading the way as the lifestyle destination for fashion infatuated shoppers worldwide, LuLu*s has created a one stop shop for all things chic. For more information, please visit www.lulus.com.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global private equity investment firm with over $15 billion of capital under management. We seek to make both majority and minority investments in strong, growth oriented businesses located throughout North America, South America and Europe. We will invest $5 million to $30 million in equity in a given company and target investments in profitable growth oriented businesses with between $10 million and $100 million in revenues. We consider investments across all industries, but focus on certain high-growth sectors where H.I.G. has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. Growth Partners strives to work closely with our management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.