Rising fashion brand Khaite welcomes new investor
Khaite is not letting anything get in its way. The New York label founded in 2016 by Catherine Holstein, is becoming increasingly popular in the United States and to accompany its new expansion phase it is welcoming Stripes, a New York-based private equity firm as its new partner.
The announcement comes as Catherine Holstein was named "Women's Ready-to-Wear Designer of the Year" at the CFDA Awards 2022 -the Council of Fashion Designers of America's awards-, and has just opened her first flagship store in Soho, New York. The brand has so far benefited from the support of Assembled Brands, its majority shareholder, a brand incubator founded by Adam Pritzker and Vanessa Traina, two experts in business and fashion.
The amount of the investment has not been disclosed. Stripes just lists Khaite on its website as a brand it invested in in 2023. The company, which specialises in software and consumer goods labels, already has a number of fashion brands in its portfolio, such as workwear specialist Brunt, Swiss sports shoe manufacturer On Running and American underwear company Parade.
In just a few years, Khaite has established itself on the New York catwalks as one of the coolest new brands to watch. Holstein, who has worked for Gap, Vera Wang, J. Crew, Maiyet and The Elder Statesman among others, has managed to seduce the public with her minimalist style with an elegant and nonchalant touch, reworking basics and classics in impeccable and irresistible cuts.
Notably, some of her designs, ranging from ready-to-wear to shoes, bags and other accessories, have become cult favorites, such as her cashmere cardigans and Japanese canvas jeans. The brand has built a wealthy New York clientele, including several celebrities such as Katie Holmes or Kendall Jenner. Khaite is the new flagship brand of American chic and is already worth over $100 million (€94 million), according to the American press.
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