The New York-based label introduced on Friday it’s receiving an funding of an undisclosed sum from development fairness agency Stripes.
The model, which was based by artistic director Catherine Holstein, is majority owned by model incubator Assembled Manufacturers, which supplied the preliminary funding within the firm when it first launched in 2016. This new funding “will additional speed up Khaite’s growth and guarantee larger visibility for an already iconic model that’s redefining American luxurious,” mentioned Adam Pritzker, chairman of Assembled Manufacturers, in an announcement.
Since its debut, Khaite has turn into a favorite of the downtown New York set, in addition to celebrities together with Kendall Jenner and Katie Holmes, for gadgets like its cashmere sweaters, structured denim and western-inspired boots. Its stockists embrace Web-a-Porter, Bergdorf Goodman and Saks Fifth Avenue.
This funding marks the most recent milestone in what’s been a busy few months for Khaite. On the finish of final yr, Holstein was named womenswear designer of the yr on the CFDA Awards, and final month, the model opened its first retailer in Soho and unveiled an eyewear collaboration with Oliver Peoples.
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Khaite Opens First Retailer, in Soho
The New York-based model plans to open 10 brick-and-mortar areas over the subsequent 5 years.