KnitWell Group acquires Chico’s, White House Black Market, and Soma
KnitWell Group, comprising iconic apparel brands Ann Taylor, LOFT, and Talbots, has announced the acquisition of Chico’s, White House Black Market, and Soma, further expanding its retail portfolio.
Following Chico’s FAS’s sale to Sycamore Partners, a private equity firm specializing in consumer and retail investments, KnitWell has added these established brands to its portfolio.
Lizanne Kindler, Executive Chair and CEO of KnitWell Group, expressed enthusiasm about integrating these brands into KnitWell’s family, emphasizing their fit with the group’s values and growth aspirations.
With the new additions, KnitWell’s brand portfolio now generates approximately $6 billion in annual sales, cementing its position as one of the largest specialty apparel companies in the United States. The acquisition brings together more than 14,000 associates across the brands, creating a robust team dedicated to furthering KnitWell’s market presence and delivering high-quality fashion products.
KnitWell Group Strengthens Retail Presence with Strategic Brand Acquisitions
Kindler highlighted the opportunities arising from the merger, including sharing best practices, driving innovation, and leveraging the scale and size of the combined entity. The integration is expected to provide an incredible runway for growth, development, and efficiencies, enhancing KnitWell’s competitive edge in the apparel industry.
The KnitWell Group aims to foster meaningful connections with partners and communities, aligning with the commitment to create sustainable and high-quality results. The expanded portfolio reinforces the company’s dedication to instilling confidence in its diverse customer base through innovative fashion offerings.
The strategic acquisition of Chico’s, White House Black Market, and Soma by KnitWell Group marks a significant expansion in the apparel retail sector. This move not only enhances KnitWell’s brand portfolio but also promises growth and innovation in the fashion retail industry. The company is set to leverage its combined strengths to enhance customer experiences and solidify its position as a leader in the apparel market.