10 June 2017
BDA advises Palladin on sale of Harrys of London to Charles Cohen
Divested Harrys of London to Charles Cohen
2017
BDA Partners is pleased to announce that its client, luxury footwear and accessories brand Harrys of London (“HoL”), has been acquired by New York-based Charles S. Cohen. Mr. Cohen has acquired a 100% interest in HoL and will assume the position of Chairman, supporting the brand in its future global growth strategy. Terms of the transaction were not disclosed.
BDA acted as exclusive financial advisor to HoL.
HoL was founded in 2001, with the mission of using the latest technology to create high-end dress shoes. The first retail location opened in London’s Mayfair in 2008. Since then, HoL has opened in Burlington Arcade and expanded to the Middle East with locations in Kuwait, United Arab Emirates and Saudi Arabia. Harrys of London products are available at prestigious department stores and specialty stores worldwide.
Cohen’s real estate holdings include over 12 million square feet of Class A and design center properties in the US. Cohen, also the owner and Chairman/CEO of Cohen Media Group, recently acquired a majority stake in Savile Row luxury menswear house Richard James.
HoL is being acquired from shareholders led by Palladin Consumer Retail Partners, a Boston-based private equity firm, focused on the consumer products sectors in North America and Europe. Palladin acquired a majority stake in Harrys of London in 2014.
Steven Newey, CEO of HoL, said, “I am incredibly excited to partner with Charles in bringing the Harrys of London brand to the next level. Charles brings a unique vision and background that will be invaluable in our future growth. We are looking forward to taking full advantage of the new horizons this partnership will open up.”
Justine Mannering, Head of Consumer & Luxury, BDA, said, “We’re delighted to have helped the company to tie up with Charles. Over the past three years Harrys of London has repositioned itself as an exciting, global contemporary brand in men’s footwear sector and we look forward to seeing its continued success.”
"BDA is proud to be advising some of the most exciting emerging consumer and luxury brands on their growth, globally. We love the Harrys brand."
About Harrys of London
Harrys of London was founded in 2001, with the mission of using the latest technology to create high-end dress shoes. Operating out of London’s Chelsea neighborhood, the design capital of the world, Harrys of London is heavily influenced by innovation, technology and the city itself which is at the core of the brand’s DNA. The brand is making a style statement by designing directional footwear and accessories collections while simultaneously responding to the needs and wants of the modern man. Constantly evolving and innovating through use of latest fabrics with technology by Technogel®, all Harrys of London collections are made in Italy. Harrys of London has a retail presence in London in Burlington Arcade and in the Middle East with locations in Kuwait, United Arab Emirates & Saudi Arabia. Harrys of London products are also available at prestigious department stores & specialty stores worldwide including Barneys, Brooks Brothers, Harrods, Holt Renfrew & Lane Crawford. www.harrysoflondon.com
About Palladin Consumer Retail Partners
Palladin Consumer Retail Partners (“Palladin” or “PCRP”) is a Boston-based private investment firm, founded in 1998, that focuses primarily on the consumer products and services sectors in North America and Europe. The principals of PCRP have invested in, financed or managed over 120 public and private companies. The firm prides itself on working closely with management teams to create value through strategic and operational initiatives. PCRP strives to provide its portfolio companies with the advantages of a strategic partner and the operating flexibility and incentives of a financial investor. PCRP targets middle market consumer and retail companies with revenues ranging from $50 to $200 million, seeks to invest $10m to $50m of equity capital in each transaction, and will work with investment partners for larger opportunities. www.pcrp.com
About BDA
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Seoul, and Tokyo. BDA formed a partnership with William Blair & Company in 2011. www.bdapartners.com
BDA carries out its US securities business through BDA Advisors Inc, a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA’s UK subsidiary is authorised and regulated by the Financial Conduct Authority. BDA’s HK subsidiary is licensed and regulated by the Securities & Futures Commission.
Recent transactions
Divested a 100% stake in Young Toys to MiraeN Group
2020
Strategic partnership in China and investment by EverYi Capital
2020
Acquired Rich Graviss
2020
Divested controlling stake to Grass Green Group
2020
Divested assets to Centric Brands
2019
Agreed to divest a 70% stake to Affirma/SCPE
2019
Divested Alliance Cosmetics Group to Mandom
2018
Investcorp invested up to $250m in China Everbright New Economy Fund
2018
Divested Leyou to Warburg Pincus
2018
Divested Chinese RTW business to a Hong Kong-based investor
2018
Divested Gourmet Noodle House to GreenTree Inns
2018
Growth capital raise
2017
Acquired Chinese food ingredients company, Tianning Flavours
2017
Merged with Fitness First Asia, led by Navis Capital
2017
Raised growth capital
2017
Divested Happy Socks to Palamon
2017
Divested Theodore Alexander to Creative Home Furniture
2016
Divested Clark's Botanicals to Glansaol
2016
Raised growth capital from Standard Chartered Private Equity
2016
Divested King Koil China to Advent International
2016