American luxury brand Altuzarra has received a minority investment from retail innovator P180, as the New York-based company looks to propel its growth.
SEE ALSO: LVMH-backed L Catterton secures stake in Polène
Financial terms of the deal were not disclosed.
Founded by Joseph Altuzarra in 2008, Altuzarra is a luxury women’s ready-to-wear and accessories brand. Before launching his namesake label in New York, Altuzarra studied art and art history at Swarthmore, before working under Riccardo Tisci at Givenchy in Paris.
Born in 1983, the designer was raised in Paris by a Chinese-American mother and French father.
While the company does not have any standalone stores in Asia, it is stocked across the continent via multi-brand retailers in Hong Kong, mainland China, South Korea, Japan and Taiwan, as well as in Australia.
“P180’s forward-thinking approach and industry expertise provide the ideal foundation for our brand’s next phase of growth,” said Altuzarra.
“This partnership will not only allow us to expand our global presence but also help us strengthen our digital strategy. I’m particularly looking forward to leveraging P180’s expertise to create more impactful ways to connect with our customers while continuing to push the boundaries of our creative vision.”
Co-founded in May this year by retail veteran Brendan Hoffman and CaaStle CEO Christine Hunsicker. The New York-based firm’s core mission is to invest in or acquire brands and retailers that stand to benefit from operational expertise and innovative technology.
“This marks our first investment in a monobrand, reflecting our belief that designer-led brands like Altuzarra have significant revenue and profit potential when provided with the resources to optimize their operations, particularly in inventory monetization,” said Brendan Hoffman, cofounder and chief executive officer of P180, in an interview with WWD.
The Altuzarra investment follows P180’s recent deal to buy a stake in Elyse Walker, the specialty retailer selling luxury fashion brands.