J.McLaughlin, a New York-based American clothing and accessories brand for women and men, has received an equity investment of undisclosed amount.
Investors include JH Partners and the Highland Consumer Fund, which are acquiring a majority interest in the company. They will help the company expand the brand to consumers across the United States and internationally.
Moving forward, the existing management team, which includes co-founders and brothers Jay McLaughlin and Kevin McLaughlin, as well as Steven Siegler, CEO, will continue in its current role and will retain a minority interest in the business.
Founded in 1977 and headquartered in Brooklyn, J.McLaughlin currently has 52 stores in 18 states across the Eastern half of the United States.
The current store base includes locations on Worth Avenue, Palm Beach; Madison Avenue, New York City; Lexington Avenue, New York City; East Putnam Avenue, Greenwich; M Street, Georgetown; and Charles Street, Boston; with new locations in Lake Forest, Illinois; Birmingham, Michigan; Kiawah, South Carolina; Ft. Lauderdale, Florida; among others.
In conjunction with the investment, Jeff Hansen, a Partner at JH Partners, will join J.McLaughlin’s Board of Directors.
FinSMEs
22/11/2011