Kellwood Purchases Parker
Kellwood Holding, LLC, parent company of Kellwood Company, a leading provider of women's apparel in the junior, missy and contemporary categories, announced today the acquisition of Parker, a distinctive player in contemporary apparel.
Founded in 2008 by three fashion industry veterans – CEO Howard Highman, Lead Designer Laurieanne Gilner and Production Head Derek Farrar – Parker designs, produces and markets premium contemporary apparel at an accessible price point. Known for its key design elements: striking prints on fine fabrics, flirty silhouette-enhancing cuts, and bold and exuberant colors, Parker collections reflect the confidence and versatility of the day-to-night style of its fashion-forward consumers.
As a result of its efforts, Parker experienced rapid growth, establishing a strong connection with its consumers and retail partners. Its clearly communicated brand identity has sparked the attention of and inspired loyalty from fashion-forward women, influencers, editors, celebrities and retailers globally. Parker is sold in fine department and specialty stores in the United States and in 30 countries internationally.
"Parker is a leader in premium contemporary apparel that appeals to today's style conscious, technologically savvy consumer who knows what she wants and shops with a knowledge of the global marketplace," said Kellwood Company CEO Lynn Shanahan. "We were drawn to the brand because of its incredible design talent and its brand vision. By leveraging Kellwood's design expertise, product development, superior sourcing, and distribution capabilities, Parker now has the support it needs to become a lifestyle brand. Working with the outstanding Parker group, we plan to broaden the product category offering and expand its distribution internationally. The Kellwood team is thrilled to be able to use its extensive resources to drive the growth of the Parker brand."
Additionally, Kellwood has a distinct advantage in creating and optimizing quality end-user experience on line, as well as enhancing digital marketing to generate revenue. Operated by industry leaders, its fully integrated e-commerce, and strategic brand marketing and communications capabilities give Kellwood an edge in today's direct-to-consumer relationship.
"We are thrilled to be part of the Kellwood organization because it will enable Parker to achieve its vision of becoming a global lifestyle brand," said Parker CEO Howard Highman. "Kellwood's product development and distribution acumen combined with its global relationships, marketing and e-commerce know-how makes this the right choice for substantial short-term and long-term growth."
The Sage Group, LLC, initiated the transaction and served as the exclusive financial advisor to Parker.
The Sage Group acted as exclusive financial advisor to Parker.