Apparel maker Faherty explores selling minority stake
Bloomberg
Faherty Brand, a family-owned clothing brand and retailer, is exploring strategic options including the sale of a minority stake, according to people with knowledge of the matter.
The New York-based company, which is profitable, has tapped a financial adviser as it seeks to solicit interest from potential investors including private equity firms and family offices, said the people, who asked to not be identified discussing confidential information. Terms, including Faherty’s potential valuation, couldn’t immediately be learned.
Faherty was founded in 2013 by twin brothers Alex and Mike Faherty, and Alex’s wife Kerry Docherty. “After years working in finance (me) and fashion (Mike), we quit our jobs to launch the company,” Alex, who worked at Cerberus Capital Management and Greenhill & Co., posted on LinkedIn.
The brand’s mission is to “create the clothing that we’d want to wear — clothes that felt relaxed and casual but were cut right, made from the best fabrics, sustainability-minded, and guaranteed for life,” Faherty wrote.
A Faherty representative declined to comment.
Faherty has 60 retail stores across the US, a jump of more than four-fold since 2019, a person with knowledge of the matter said.
