Apparel, Footwear & Accessories

We focus on companies that design, manufacture, distribute and/or sell apparel, accessories and footwear products. Companies under coverage will range from brand manufacturers selling solely through wholesale channels to pure-play retailers that offer third party branded products. We are particularly interested in the growing presence of vertically integrated retailers and their impact on each of the aforementioned models. We look for businesses with some or all of the following characteristics: sustainable competitive advantage, differentiated product and/or distribution model, recognizable brand equity, headroom for growth and/or compelling turnaround strategy, high quality management team, strong ROIC and solid balance sheet.

Companies