Sycamore creates KnitWell holding firm for Ann Taylor, Loft and Talbots brands

Sycamore Partners announced on Wednesday the launch of Knitwell Group, a new holding company comprising apparel brands Ann Taylor, Loft, and Talbots. 

Together, the three brands generate more than $3 billion in annual sales and have a workforce of about 30,000.

The New York-based investment firm said KnitWell will also continue to provide oversight and shared services to Lane Bryant, a plus-size women’s apparel brand, making Knitwell one of the largest specialty apparel companies in the United States.

Lizanne Kindler, current chief executive officer of Talbots, will lead KnitWell Group as executive chair and chief executive officer. She is joined in the office of the executive chair by a team of retail executives, and further supported by senior leaders at each of the brands, according to a press release from Sycamore.

“KnitWell is a collection of powerful brands that, in aggregate, have been providing customers with the fashions they want for nearly 300 years,” said Kindler.

“Brands are propelled by a deep and meaningful connection with the customers they serve, and that is where we start and end each day. With that as our North Star, we know that this new structure will support our efforts to unite brands and people by providing greater resources and capabilities, economies of scale, and enhanced value. We are excited about the opportunities ahead and grateful for our more than 30,000 associates for being part of this next chapter.”

Premium Apparel, a unit of private equity firm Sycamore Partners, acquired clothing brands Ann Taylor, Lane Bryant, Lou & Grey, and Loft from Ascena Retail Group for $540 million in 2020. Sycamore already owned Talbots at the time of the takeover.

“Lizanne and the team have done an incredible job over the last decade reviving and growing these iconic American brands, first Talbots and most recently Ann Taylor and Loft,”
said ​Stefan Kaluzny, managing director of Sycamore Partners.

“The consistent and focused approach, which  leverages the replicable playbook this team has developed, is laying the foundation of success not only for the brands currently part of the KnitWell portfolio, but also for potential future brands. We look forward to our continued partnership with Lizanne and the entire team.”