IPC Announces Investment in Rag & Bone
January 3, 2013
Irving Place Capital (“IPC”) announced today that it has taken a minority stake in rag & bone.
In under a decade, British CFDA-winning duo Marcus Wainwright and David Neville have established rag & bone as a critical and commercial success. Combining their English heritage with modern design, rag & bone has become synonymous with innately wearable clothing that melds classic tailoring with an edgy yet understated New York aesthetic. The company’s offering includes men’s and women’s apparel, footwear, and accessories collections, available through rag & bone stores as well as major department and specialty stores around the world.
“Irving Place Capital is an exciting partner for us, as they really believe in our brand. Their investment will support our continued retail growth, the expansion of our e-commerce business, and the development of our product categories,” said rag & bone’s Managing Partners Marcus Wainwright and David Neville.
“Marcus and David have built their business and brand the right way, remaining true to themselves and their company at every step. They’ve developed an exceptional brand that stands for craftsmanship, quality, and design detail,” said John Howard, CEO of IPC. “rag & bone has a visionary team, a remarkable growth trajectory, and tremendous potential to expand its footprint. We are thrilled to work with the company as it achieves its next phase of growth.
Peter J. Solomon Company served as rag & bone’s financial advisor, and Hand Baldachin & Amburgey LLP served as the company’s legal advisor. Weil, Gotshal & Manges was IPC’s legal advisor on the transaction.
About rag & bone
rag & bone operates 11 stores worldwide, four of which are in New York City. Flagship stores are also located in Washington D.C., Boston, London, Los Angeles, Dallas, Seoul, and Tokyo. rag & bone is also available in high-end boutiques and exclusive department stores in over 39 countries worldwide. rag & bone operates an e-commerce store at www.rag-bone.com