New York-based jewelry designer Alexis Bittar has entered into a partnership with private equity firm TSG Consumer Partners. The firm is investing an undisclosed amount into Alexis Bittar. Terms were not released.
Alexis Bittar, the award winning designer, manufacturer and marketer of premium fashion jewelry, announced today that it has entered into a partnership with TSG Consumer Partners L.L.C. (“TSG”), a leading private equity firm specializing in branded consumer companies. The partnership enables the brand to continue to build its market share and extend its product line, both in the U.S. and abroad. The terms of TSG’s investment in the company were not disclosed.
“I am delighted to welcome TSG as a partner and to have their expertise to help us further develop our strategy and invest the necessary resources for our future growth,” said Alexis Bittar, founder and head of the company that bears his name. Alexis Bittar continues to own a substantial ownership stake in the company and will continue to lead the business.
“Our company has enjoyed exceptional success based on a passionate and very diverse consumer following, as well as some highly visible celebrity clients such as Michelle Obama. However, we know that we’ve only scratched the surface of what the brand can become. We have so many exciting growth opportunities in front of us including product extensions, international growth, and generally investing to build the brand. TSG’s long and successful track record of helping other consumer brands grow and achieve substantial scale, along with their valuable marketing and business know-how, will, I am certain, contribute importantly to our continuing to expand the brand.”
“We are extremely excited to have the opportunity to partner with Alexis Bittar, who has shown extraordinary vision in creating a category-leading brand. Alexis’s design forte, passion, and commitment to his customers and consumers is inspiring and unrivaled,” said Hadley Mullin, Managing Director at TSG. Adds Jennifer Baxter, Vice President, “In addition to being a highly-recognized and award-winning designer, Alexis has also built an impressive business and strong relationships with his marquee customers, which include the nation’s leading premium department stores. We believe the brand has significant opportunities to continue to grow and expand, and we are thrilled to partner with him in this very promising endeavor.”
Alexis Bittar is the leading premium designer brand in the costume jewelry category. The line includes earrings, bangles, rings, necklaces and pins sold under the Lucite, Miss Havisham and Elements sub-brands, at prices ranging from $50 to $600. Alexis Bittar designs are innovative yet wearable and appeal to a broad range of ages and personal styles. The brand has established a reputation for quality, craftsmanship and innovation. Mr. Bittar, who founded the company in 1988, two years ago won the prestigious CFDA award for “Accessory Designer of the Year.”
Alexis Bittar jewelry is featured in an impressive set of wholesale customers, including Nordstrom, Neiman Marcus, Saks Fifth Avenue and Bloomingdale’s. The Company also operates seven Alexis Bittar boutiques in New York, Los Angeles, San Francisco and Chicago. The company designs and manufactures its products at its own facility in Brooklyn, NY.
Alexis Bittar was advised by The Sage Group, a national investment bank that focuses on providing merger and acquisition advisory services to companies in apparel, accessories, specialty retail and other branded consumer segments, and the law firm Davis & Gilbert LLP. Ropes & Gray provided legal counsel to TSG Consumer Partners.
About Alexis Bittar
Described as “one of the most innovative jewelry designers of the 21st Century”, Alexis Bittar’s designs act as cult favorites of A-List celebrities including Cameron Diaz, Madonna, Lady Gaga, Alicia Keys and Whitney Houston; as well as influential fashion icons Iris Apfel and Karl Lagerfeld. Bittar’s designs have been featured in over six national ad campaigns for Estee Lauder and he has collaborated with legendary costume designer Patricia Field for HBO’s “Sex and the City” since the show’s conception. In 2004, Alexis Bittar won the accessories council’s “Rising Star” award and became a member of the council of fashion designers of America. Bittar has collaborated with some of the world’s most renowned fashion designers, creating exclusive runway collections for both Michael Kors and Burberry.
In 2010 Alexis Bittar made fashion headlines, featuring legendary 80’s icon Joan Collins as the face of his annual campaign. Alexis Bittar was named 2010 “Accessory Designer of the Year” by the CFDA; fellow nominees included Marc Jacobs and Proenza Schouler.
About TSG Consumer Partners LLC
TSG Consumer Partners L.L.C. is a leading investment firm with over $2.7 B in equity capital under management, focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the beauty, personal care, food, beverage and household sectors. Representative past and present partner companies include Smashbox, e.l.f. cosmetics, Perricone MD, Pureology, Smart Balance, vitaminwater, and MuscleMilk.