TSG Invests in Alexis Bittar
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 LLC (“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.
The Sage Group acted as exclusive financial advisor to Alexis Bittar.