Permira to take majority stake in fashion brand Reformation
Summary
From running a sustainable factory in Los Angeles to using deadstock and eco fabrics to tracking the environmental impact of every product, Reformation is committed to pushing the industry forward. By incorporating better practices throughout our supply chain, we are able to create beautiful clothes at a fraction of the environmental impact of conventional fashion,” said Yael Aflalo, Reformation Founder and CEO. We are thrilled to support Yael and Hali as they continue to grow Reformation in the U.S. and abroad.” Permira will draw on its significant experience in backing leading consumer brands, internet businesses and omnichannel retailers – including Hugo Boss, Valentino, Dr. Martens, Minted, The Knot Worldwide and Allegro – to help Reformation achieve its growth plans, expand its e-commerce strategy and retail footprint both domestically and internationally, and to launch new product categories, all while remaining the industry leader in sustainable fashion. Ken Fox, Stripes Founder and Partner, said, “We are proud to have supported Reformation at key inflection points to help accelerate growth and drive scale, and are excited to continue to invest alongside Yael and the Permira funds as the company capitalizes on an even larger opportunity for future success.” Goldman Sachs & Co. LLC acted as financial advisor and Latham & Watkins LLP acted as legal advisor, respectively, to Reformation. From running a sustainable factory in Los Angeles to using deadstock and eco fabrics to tracking the environmental impact of every product, Reformation is committed to pushing the industry forward.