Cushnie et Ochs Finalizes Investment Deal

Cushnie et Ochs, the design duo consisting of Parsons graduates, Carly Cushnie and Michelle Ochs, have found an investor to build out their 8-year old brand. Launched on the heels of their graduation, the designers have wooed the fashion industry and Hollywood starlets alike with their body-contouring silhouettes that embody not only luxury and modernity but celebrate the woman that wears them. Everyone from First Lady Michelle Obama to “it” girls like Selena Gomez, Karlie Kloss, Empire’s Taraji P. Henson, and Beyoncé, among many, many others, have taken a liking to this New York-based brand, recognized for its sexy bodycon dresses, perfectly-placed cut-outs and minimalist elegance.

The duo has sold a minority stake in the business to Farol Asset Management and a group of fashion insiders, including Gary Wassner, who is chief executive officer of industry factor Hilldun and a founding partner of InterLuxe, made a personal investment. Per WWD, "As part of the transaction, Peter Arnold was brought on board as ceo. Arnold spent seven years as ceo of Cynthia Rowley and before that was executive director of the Council of Fashion Designers of America.The terms of the deal were not disclosed, but the company plans to use the proceeds from the sale to expand its collection, speed growth and build the brand’s profile."

Of the investment deal, Ochs told WWD: “We always took pride in growing organically and smart and really making the right moves as we were growing the brand. It’s been very lean and we’ve built a very strong team. We’ve always focused on female power and energy and growing smart and finding the right people.”