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16 Dec

Gordon Brothers Sells Orsay Women’s Brand

Gordon Brothers has sold the Orsay women’s brand, archives, related trademarks and other mental property to a personal investor from the Czech Republic operating under Orsay International.

The deal, revealed Thursday, comes just fourth months after Gordon Brothers, the Boston-based advisory, restructuring and investment firm, bought Orsay from Orsay GmbH.

“Once we bought Orsay’s brand, it was a standard, vertically integrated structure with legacy systems and a big brick-and-mortar store footprint,” said Tobias Nanda, head of brands at Gordon Brothers. “In record time, we revitalized sourcing and design options, established latest manufacturing resources, optimized IT and reorganized human capital, and built out a sturdy distribution network online that allowed the brand to proceed.

In line with Gordon Brothers, the private investor will proceed to speculate within the Orsay fashion brand and work to grow its presence in Europe online, in stores and with existing franchisees.

“Our firm has the unique ability to amass, value, lend to, put money into and reimagine brands to speed up their transformation and support continued growth,” said Frank Morton, chief investment officer at Gordon Brothers. “Under latest ownership, Orsay will proceed to achieve consumers throughout Europe and embark upon its next chapter of growth.”

Gordon Brothers streamlined Orsay’s operations and “created a nimble team, restructured the brand, optimized the product offering, strengthened and expanded franchisees, and invested in marketing to grow Orsay’s e-commerce channels,” Gordon Brothers said in its announcement.

The acquisition price was not revealed.

When Gordon Brothers bought Orsay earlier this yr, Nanda told WWD that the brand generated nearly 500 million euros in sales pre-COVID-19.

The Willstatt, Germany-based fashion retailer has experienced some difficult times resulting from the pandemic and the war in Ukraine’s impacting Germans’ willingness to spend. The corporate adjusted through closing its company-owned stores in addition to through layoffs, and Gordon Brothers led restructuring efforts.

Orsay was certainly one of the earliest European corporations to go surfing in Germany by launching a site in November 1998. An English version followed in the summertime of 1999 and Orsay began shipping online orders to all European Union countries.

Gordon Brothers owns Laura Ashley and Nicole Miller. Last November, Gordon Brothers said it provided Everyone Inc. with a $25 million term loan to assist fuel Everlane’s growth. The loan was secured by the sustainable apparel, accessories and footwear retailer’s digitally native brand and dealing capital assets. Gordon Brothers gave no indication of whether it could eventually take an equity stake in Everlane.

In April 2022 Gordon Brothers received $300 million in financing from Canada Pension Plan Investment Board, increasing the firm’s capital base to greater than $1 billion.

The firm has greater than 30 offices in five continents and has been investing in brands since 2003. The firm conducts greater than $100 billion value of dispositions and appraisals annually and provides short-term and long-term capital to clients. It is understood to lend against and put money into brands, real estate, inventory, equipment and other assets together and individually to provide clients liquidity solutions.

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