Sycamore Partners, a private equity firm that focuses on consumer, distribution and retail investments, has revealed the creation of KnitWell Group (‘KnitWell’). This new holding company includes renowned brands – Ann Taylor, LOFT and Talbots, which collectively produce over $3 billion in yearly revenue. The Current CEO of Talbots, Lizanne Kindler will acquire the Executive Chair position at KnitWell Group. Additionally, the company will maintain its involvement with Lane Bryant, a prominent brand for plus-size women’s clothing. This consolidation makes KnitWell a major player among specialty apparel companies in the US.
Lizanne Kindler, all set to take on the role of Executive Chair and CEO of KnitWell Group, will be accompanied by experienced retail executives on the board. Kindler emphasised the powerful legacy of KnitWell’s brands and their strong connection with customers.
“KnitWell is a collection of powerful brands that, in aggregate, have been providing customers with the fashions they want for nearly 300 years,” said Kindler to the press. “We are excited about the opportunities ahead and grateful for our more than 30,000 associates for being part of this next chapter.”
Stefan Kalzuny, Managing Director of Sycamore Partners, acknowledged Lizanne and her team’s remarkable decade-long effort in rejuvenating iconic American brands. He appreciated the consistent strategy, built on their replicable playbook that set the stage for success, not only for existing KnitWell brands but also potential future ones. He further continues to value the partnership with Lizanne and other team members.
The name KnitWell embodies the firm’s fundamental conviction that while each individual brand is unique, their combined strength forms a formidable retail entity committed to catering to customers at every stage of their experience.
