D.K. Smith & Co. has acquired the luxury fashion brand PLANET, aiming to leverage its resources and elevate the brand’s market presence.
D.K. Smith & Co., the middle-market private equity division of DKS Capital Partners, has announced the acquisition of the luxury fashion brand PLANET, founded by designer Lauren Grossman in 2002. The details of the transaction have not been disclosed.
Based in Sunrise, Florida, PLANET is recognized for its timeless and sophisticated designs, boasting nearly 400 wholesale partnerships across the nation. With a dedicated customer base that appreciates premium quality, the brand is well-positioned for growth. Lauren Grossman, who has led the company since its inception, will continue in her role as CEO and Chief Design Officer.
According to Darien K. Smith, CEO of DKS Capital Partners, the synergy between PLANET’s established reputation and D.K. Smith & Co.’s resources is expected to create “a tremendous opportunity to elevate PLANET’s market presence and brand impact.” Grossman echoed Smith’s sentiments, expressing her excitement about the partnership and its potential benefits for the brand’s loyal customers.
The acquisition comes as D.K. Smith & Co. looks to expand its portfolio, which includes investments in various sectors such as hospitality, commercial real estate, and industrial private equity. Post-acquisition, both Smith and CFO Alex Rienzie will join the Board of Directors of PLANET.
The professional services for this acquisition were provided by Cadet Legal, with Denzel R.B. Cadet serving as the lead advisor.
This strategic move reflects a growing trend in the fashion industry, where established brands seek partnerships with financial firms to leverage their expertise and expand their market reach in a competitive landscape.
Source: Noah Wire Services
