Brand Sense Partners acquires stake in DwellStudio
Staff Staff -- Furniture Today, July 15, 2011
Los Angeles - Brand Sense Partners has acquired a stake in DwellStudio, which the company said will allow the lifestyle brand to focus on its growth in the wholesale and direct-to-consumer channels.
BSP did not disclose the size of the stake or whether it had majority ownership in DwellStudio.
Officials said there are also plans to open a DwellStudio flagship store that will allow the company to merchandise its entire collection together for the first time. BSP also said it will take a hands-on operating role in helping drive licensing, international and business development initiatives at DwellStudio, the company said.
The investment is the second reach into home furnishings for Brand Sense Partners, which bought controlling interest in Shabby Chic in 2009.
Founded in 1999 by designer Christiane Lemieux, DwellStudio sells a broad range of home textiles products, case goods, upholstered furniture and baby and kid's products. The company operates a shop-in-shop at ABC Home in New York and is carried by over 750 retailers with 2,000 units in 30 countries.
"We have been actively seeking investment opportunities where we can leverage our capabilities and drive incremental value for brands in the home furnishings arena," said Ramez Toubassy, president and ceo of Brand Sense Partners. "As both admirers and longtime customers of the DwellStudio brand, we are very excited to be partnering with Christiane, ceo
Joshua Young and the rest of the DwellStudio team as we work together to take the DwellStudio business to the next level."
Young said: "This is a great step for our brand and we are very excited about the many new initiatives we already have in progress."
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