Windsong Brands, LLC, the private equity firm, has purchased the
Carlos Falchi brand of accessories and handbags.
Terms of the deal were not disclosed, but Windsong managing director Stuart Jamieson said Falchi's sales volume for the signature collection is $10 million and the firm intends to grow revenues of the overall brand to $250 million in the next few years. Jamieson and William Sweedler, chairman and chief executive officer of Windsong Brands, will serve as co-chairmen of Falchi.
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Falchi will act as chief designer and creative director, and will no longer be involved in operational activities. He will conduct more personal appearances and focus on merchandising. Falchi recently had a successful personal appearance at Bergdorf Goodman, in which the retailer curated a retrospective of his 37 years in handbags. The exhibit will travel to additional stores in the future.
Windsong believes it can turn Falchi into a $250 million a year business. The firm already has invested in Ellen Tracy, Caribbean Joe, Joe's Jeans and Field & Stream. We're glad Carlos is staying on with the company; we've loved his handbags for years. It will be interesting to see what the company can do with a major infusion of capital.
