NEW YORK–(BUSINESS WIRE)–Jaya Apparel Group today announced that it has received a strategic investment from Brand Velocity Group – an innovative private equity firm which last year launched a Fashion and Apparel vertical with industry luminary Gary Wassner. The partnership will expand business opportunities, fuel sales growth and foster global expansion efforts for Jaya.
Established in 2009 by industry veterans Jane Siskin and Jalal El Basri, Jaya quickly became a leader in the contemporary fashion space. Having previously built highly successful labels such as Elizabeth and James, Jaya later transitioned its efforts to focus on its owned brand strategy, with labels including Cinq à Sept and Likely.
Cinq à Sept and Likely currently offer ready-to-wear styles, in addition to Cinq à Sept’s recently launched beachwear line. Jaya brands are sold at over 400 points of distribution worldwide, have a strong e-commerce presence, and, as of April 2023, are featured at a Flagship boutique storefront in Soho, NYC.
“This is a monumental moment for our company,” said Jane Siskin, Jaya’s co-CEO. “I am so proud of what we have built at Jaya. Just this year alone, we celebrated major milestones with our first-ever store in Soho, expansion into the beachwear category, and as of today, our partnership with BVG. Together, we are excited to strategically grow our presence on a global scale.”
Jaya co-CEO Jalal El Basri added, “We’re thrilled to partner with BVG, whose experience, knowledge, and passion for our industry were clear from our earliest conversations. We are confident that we’ve found the right team to fuel the next phase of growth for our brands, and are eager to see what we can do together.”
BVG’s investment in Jaya marks the firm’s first in the fashion industry since launching its Fashion and Apparel vertical last year. Wassner’s career spans decades, having provided financing and strategic support for many of the world’s most iconic designer labels. With its investment, BVG will power Jaya’s next stage of growth, in which it aims to exponentially expand global reach and distribution, open new brick-and-mortar stores, and heighten its marketing efforts.
“Jaya is one of the most thrilling companies I’ve had the pleasure of getting to know over the last decade,” said Wassner. “The company covers every base, from product to fit, consistency to quality, strong core components, and exceptional management, while always providing its consumer with something new and exciting. I look forward to our new partnership, and helping them take the company to the next level.”
“Our partnership with Jaya marks a great milestone for BVG as we build out our Fashion and Apparel vertical with an exceptional group of entrepreneurs and visionaries,” said Steve Lebowitz, Founding Partner at BVG. “The Jaya team has built one of the most compelling franchises in all of fashion, and their enthusiasm to grow further in thoughtful and creative ways is inspiring. We look forward to hitting the ground running.”
Sidley Austin served as legal counsel and CohnReznick served as a financial and tax due diligence advisor for BVG. Kroll served as financial advisor and Buchalter served as legal counsel for Jaya.
Terms of the transaction were not disclosed.
For more information, please visit www.cinqasept.nyc, www.likely.nyc and www.BrandVelocityGroup.com.
About Jaya Apparel Group:
Jaya Apparel Group LLC, under its current name, was established in 2009. Specializing in women’s contemporary fashion, Jaya has one of the top manufacturing infrastructures and supply chains in the industry. In its history, Jaya has developed highly successful apparel brands with partners such as Disney, MTV, and Dualstar Entertainment, and for retailers such as Walmart, Target, and Kohl’s. In 2000, the company under a different name launched 7 For All Mankind, the brand that started the premium denim trend that continues to dominate the market today. This milestone catapulted Jaya Apparel into the contemporary and luxury marketplace, quickly leading to its multi-year partnership with Mary-Kate Olsen and Ashley Olsen to launch the contemporary fashion brand Elizabeth and James in 2007 – which grew to generate $100 million in annual sales by 2015. The following year, with Jaya Apparel Group’s launch of Cinq à Sept, a sophisticated advanced contemporary collection, and Likely, a special occasion, dress-driven brand, Jaya quickly became a leader in creating brands that satisfy consumer demand for a high-fashion aesthetic, built on superior quality and fit. The company has headquarters and showrooms in Los Angeles and New York City.
About Brand Velocity Group:
Brand Velocity Group (BVG) is an innovative and diversified investment platform focused on investing in businesses that are well-positioned to benefit from its operational expertise, deep in-house marketing resources, and thoughtful approach toward corporate culture. BVG has deep strategic partnerships with specialty brand marketing agencies that develop and execute marketing plans across its investments. Portfolio companies also leverage BVG’s strong entertainment networks to create accretive partnerships with celebrities, brands, and other businesses. In addition, BVG recognizes the worth of portfolio company employees, who are valued and critically important to driving continued, collective success. In recognition, BVG offers to dedicate 10% of its total carried interest pool in investments to the employees of the portfolio company. This is the Share the Gains program, which provides employees of a portfolio company an opportunity to share in the success of the firm’s united efforts. To learn more about BVG, its portfolio companies, and its innovative growth strategies, please visit www.brandvelocitygroup.com.
