Fashion brand Khaite has received a new investment from Stripes, a growth equity firm based in New York City. The investment amount has not been disclosed, but it is expected to provide the brand with the necessary capital to expand its global presence and accelerate its growth.
Khaite, founded in 2016 by designer Catherine Holstein, has gained a reputation for its modern take on classic womenswear.
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The brand has been worn by celebrities such as Katie Holmes, Emily Ratajkowski, and Kendall Jenner, and has been featured in publications like Vogue and Harper’s Bazaar. Khaite’s signature aesthetic balances simplicity and sophistication, combining classic silhouettes with contemporary elements.
The new investment from Stripes comes at a time when Khaite is experiencing significant growth. The brand’s sales reportedly increased by over 800% in 2020, despite the hurdles brought by the COVID-19 pandemic. With this new capital injection, the fashion giant is poised to build on its momentum and expand its reach even further.
The fashion industry has been one among many sectors hit hardest by the pandemic, with many retailers and brands struggling to stay afloat. However, Khaite’s success demonstrates that there is still a demand for high-quality fashion, even in the midst of a global crisis. By remaining true to its vision and focusing on quality and innovation, Khaite has been able to carve out a niche for itself in the highly competitive fashion market.
Another Feather to the Cap
For Stripes, the investment in Khaite represents another addition to its portfolio of high-growth companies. The firm has, in the past, invested in companies such as GoPuff, Samaa, and eMarketer. Stripes has a proven track record of investing in companies with innovative business models and strong growth potential. By partnering with Khaite, Stripes is signaling its confidence in the brand’s ability to continue its upward trajectory.
In a statement, Catherine Holstein said, “We are thrilled to partner with Stripes as we continue to grow and expand our brand. Their experience and expertise in helping innovative companies scale will be invaluable to us as we work to reach even more customers around the world.” This sentiment is echoed by many industry experts, who believe that the partnership between Khaite and Stripes has the potential to be highly successful.
New Hurdles, New Heights
However, some analysts have raised concerns about the sustainability of the fashion industry as a whole. The industry is notorious for its environmental impact, with fast fashion, in particular, being a significant contributor to waste and pollution. Khaite has positioned itself as a more sustainable alternative to fast fashion, but it remains to be seen whether the industry as a whole can make the necessary changes to reduce its environmental footprint.
Despite these concerns, there is no doubt of the impact that Khaite has had on the fashion industry in its relatively short existence. The brand has managed to build a loyal following of customers who appreciate its unique blend of classic and contemporary design. With the support of Stripes, Khaite is poised to take its success to the next level.
Overall, the new investment from Stripes is a promising development for Khaite and the fashion industry as a whole. While the industry faces many challenges, there is still a demand for high-quality fashion that is sustainably produced. By continuing to innovate and focus on quality, Khaite has positioned itself as a brand that is well-suited to meet this demand. With the support of Stripes, Khaite is likely to continue its current skyward trajectory and establish itself as a major power on the global fashion scene.