New York fashion gem, Thom Browne, has found a new majority investor for his eponymous label. Private equity firm, Sandbridge Hill Capital, has acquired a majority stake in Thom Browne New York from Japan's Stripe International, which bought into Browne’s label in 2009, originally taking a 20 percent stake and but increasing that to 67 percent controlling stake last year.
Sandbridge Hill Capital was launched in 2012 with the involvement of multiple fashion industry power players including Tommy Hilfiger and former Gucci Group chief executive officer Domenico De Sole, both of whom are senior advisors at the firm. Sandbridge has stakes in an array of brands, including Karl Lagerfeld’s eponymous label, Derek Lam, Tamara Mellon, and Topshop. De Sole and Hilfiger are both expected to be involved with the Thom Browne brand as a result of the acquisition.
While the exact terms of the deal were not disclosed, Sandbridge acquired the majority of Stripe's ownership stake in the brand. Stripe will retain a minority holding in Thom Browne. Browne did not sell any shares in the transaction, which will close at the end of this month.