The investment is designed to enable the company to continue to build its market share and extend its product line, both in the U.S. and abroad. Following the transaction, founder and CEO Alexis Bittar will continue to own a substantial ownership stake in the company and will continue to lead the business.
Established by Mr. Bittar in 1988, the brand designs, manufactures and markets premium fashion jewelry. Its 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 features wholesale customers including Nordstrom, Neiman Marcus, Saks Fifth Avenue and Bloomingdale’s, and 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.