Knot Standard, an omnichannel custom menswear brand headquartered in New York, 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 of 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 co-founder 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 co-founder. "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.
Knot Standard
John Ballay and Matt Mueller originally founded Knot Standard in Dubai in 2010. Headquartered in New York City, the company now has seven showrooms across the country in New York, Chicago, Washington DC, San Francisco, Dallas, Austin, and Houston. The Company offers "digitally bespoke" menswear, including suits, blazers, shirts, trousers and casual wear utilizing premium fabrics, with a high service level offered by stylists at all of its locations. Customers can set appointments and customize garments directly on http://www.knotstandard.com/
Provenance
Based in Los Angeles, Provenance is a growth stage investor focusing on digitally-intensive omnichannel brands. Utilizing a unique data-driven approach, Provenance was founded to assist an entire generation of brands navigating increasingly complex omnichannel growth strategies. Provenance seeks to partner with outstanding brands to help shape aggressive but prudent long-term growth strategies to maximize brand and enterprise value while minimizing risk to the organization. To learn more about Provenance, please visit http://www.provenance.digital/
