TSG Consumer Partners has made a minority investment in Privé Revaux Eyewear, a provider of affordable, high quality and on-trend eyewear.
Privé Revaux was launched as an e-commerce and direct-to-consumer platform but has expanded into brick-and-mortar locations, branded kiosks, and pop-up shops in major department stores and retailers including Nordstrom, Express, American Eagle, QVC, and DSW. Privé Revaux’s more than 100 styles of glasses are priced at $29.95 per pair and are all assembled by hand in a factory in China (www.priverevaux.com).
Privé Revaux was founded in June 2017 by entrepreneur David Schottenstein and celebrities Jamie Foxx, Hailee Steinfeld, Ashley Benson, and Dave Osokow. Mr. Schottenstein’s family founded retailer DSW (Designer Shoe Warehouse) and his cousin Jay is the head of retailer American Eagle.
“We are thrilled to partner with David and the entrepreneurial team at Privé Revaux,” said Blythe Jack, Managing Director at TSG. “Privé Revaux’s dynamic mix of omni-channel distribution, high-quality affordable products and effective influencer marketing has quickly proven to be a disruptive force in the eyewear space – selling more than 1 million pairs of sunglasses in its explosive inaugural year.”
TSG Consumer Partners makes control and non-control investments of $15 million to $100 million in companies with EBITDAs of $3 million to $50 million where there is an opportunity to create value by extending brand, expanding distribution and improving operations. Sectors of specific interest include the food, beverage, restaurant, beauty, personal care, household, apparel & accessories, and e-commerce sectors. The firm has $5 billion of assets under management and is headquartered in San Francisco (www.tsgconsumer.com).
“When it comes to consumer-facing private equity, TSG is the gold standard having backed leading brands like REVOLVE, vitaminwater, Smashbox Cosmetics, Huda Beauty, IT Cosmetics and PAIGE,” said Mr. Schottenstein. “Privé Revaux is one of the youngest brands to ink a deal with TSG, and this partnership will enable us to continue growing at a remarkable rate and accomplish goals that we never thought possible at such an early stage. I have no doubt that over the next few years, Privé Revaux will firmly position itself as a powerhouse in the affordable luxury market.”
ROTH Capital Partners (www.roth.com) was the financial advisor to Privé Revaux.
© 2018 Private Equity Professional | July 19, 2018