August 29, 2011
Jessica’s Receives Strategic Investment from Relativity Capital
Vernon, California — Jessica’s, a leading distributor of contemporary branded apparel to the offprice market, announced today a partnership with Relativity Capital, L.P. The investment from Relativity will further accelerate Jessica’s growth and expansion into new brands and categories.
Founded in 1980, Jessica’s offers the largest customer base in the off-price market access to over 2,000 styles of contemporary branded apparel, including premium denim, knits and wovens, action sportswear, footwear and accessories for men, women and children. Leveraging over 30 years of experience and relationships in the off-price market, Jessica’s offers its brand partners merchandising capabilities, logistical expertise, and access to the largest customers in the offprice market helping to manage their brand in the channel and increase the profitability of their business.
Jessica’s President and Chief Executive Officer Richard Koral said, "We engaged with Relativity when we decided to seek additional capital to finance our growth strategy. We recognized Relativity would be an excellent financial partner given their ability to offer strategic support and resources, their long-term partnership approach and our shared vision for Jessica’s that emphasizes providing our brand relationships with superior service and execution, while offering customers best-in-class access to contemporary branded apparel."
Relativity Co-Founder and Senior Managing Director Joyce Johnson-Miller said, "We look forward to working with Richard Koral and the Jessica’s management team and assisting the company in executing its growth plans. We see significant opportunities to further expand existing relationships and foster new relationships with brands, which can leverage Jessica’s experience and logistical capabilities to manage their brand in the off-price channel.”
Relativity Principal Brian Lee added, "For over 30 years, Jessica’s has been a leader in the offprice market and has developed a unique trusted advisor relationship with brands looking for support managing and distributing products customized for the off-price channel. We are committed to supporting Jessica’s plan for long-term growth."
Jessica’s will also receive an investment from Riveria Investment Group. The Company was advised by Creo Capital Advisors and Buchalter Nemer. Relativity was advised by Kirkland & Ellis LLP and PricewaterhouseCoopers LLP.
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