NEW YORK CITY — April 9, 2018 — Knot Standard, an omnichannel custom menswear brand, has received a significant minority investment from Provenance, a growth equity investment firm based in Los Angeles. Originally founded in 2010, Knot Standard currently has showrooms in seven cities across the country, with plans for significant expansion.
“Knot Standard created an extraordinarily loyal and valuable customer following in the premium/luxury segment of custom men’s apparel, with a true omnichannel system and culture,” said Anthony Choe, founder, Provenance. “We’re proud to partner with the company to replicate their success in other markets throughout the country.” Provenance also joins the Knot Standard Board of Directors, bringing substantial industry expertise and market knowledge to the growing company.
Knot Standard has pioneered processes to create a “digital bespoke” offering, a significant step up from most made-to-measure custom offerings available in the market today. As a result, Knot Standard enjoys extraordinary repeat customer and revenue rates in the apparel industry.
“Provenance brings tremendous insight as we embark on the next level of growth,” said Knot Standard CEO and Cofounder John Ballay. “Their approach to create value through customer analytics is unparalleled in the investment community.”
“Provenance is a value-added investor and really understands our business and brand” said Matthew Mueller, COO and cofounder. “We look forward to our continued fruitful partnership for years to come.”
Provenance was represented by Perkins Coie LLP in conjunction with the transaction. The Company was advised by Rendersi LLC with legal advice from Faegre BD LLP.
Posted April 9, 2018
Source: Knot Standard