The early stage fashion investment deals keep on rolling in.
A day after the announcement from Matthew Williamson, The Wall Street Journal is reporting today that Peter Som is close to finalising a deal with NRDC Equity Partners, further confirming a report from WWD back in February. NRDC is the firm behind the investment and turnaround of Lord & Taylor, the American department store.
It's an unconventional choice for Som whose savvy business partner, Elana Posner, has been driving the fund raising search for Som for over a year now. While other designers have been taking investments from upstream strategic investors (Sophia Kokosalaki and Staff International, Proenza Schouler and Valentino), this is the first deal in some years that comes from a retail partner whose expertise is more focused on retail distribution than on production and brand development.
Perhaps one reason for this choice is the unique structure of the deal.