Palladin buys stake of luxury shoemaker
The Boston-based private equity firm has announced a new agreement to acquire a majority interest in Harrys of London, marking this the second major footwear deal in the past few months, following the deal with Aerosoles in June
Palladin Consumer Retail Partners LLC is rapidly growing its presence in the footwear arena. The company announced they are acquiring a major stake at Harrys of London, a luxury shoemaker and accessories house known for “combining traditional craftsmanship with the latest footwear technology”. Based in London's Belgravia district, the company operates seven freestanding flagship boutiques globally and two shop-in-shops in Japan. Harrys of London shoes are sold in department stores and specialty retailers in over 20 countries worldwide. This deal follows the one celebrated in June with Aerosoles.
Financial terms of the new partnership were not disclosed, but according to a statement by Palladin, Jennifer Moores, one of the founding shareholders of Harrys is participating in the investment. Chairman Martha Wikstrom and Creative Director Kevin Martel also remain significant shareholders in the company and will continue at the brand.
Palladin plans to significantly expand Harrys’ presence in the US and European, while also building the brand in Asia and the Middle East.
Financial terms of the new partnership were not disclosed, but according to a statement by Palladin, Jennifer Moores, one of the founding shareholders of Harrys is participating in the investment. Chairman Martha Wikstrom and Creative Director Kevin Martel also remain significant shareholders in the company and will continue at the brand.
Palladin plans to significantly expand Harrys’ presence in the US and European, while also building the brand in Asia and the Middle East.