British footwear and accessories brand Harrys of London has been acquired by New York-based real estate developer and media entrepreneur Charles S. Cohen.
Cohen has acquired a 100 percent interest in the brand and will assume the position of chairman.
“Harrys of London has been a brand I have supported and respected for a long time, bringing a unique mix of luxury, contemporary craftsmanship and cutting-edge technology and design,” Cohen said in a release. “We see huge potential for expansion across the U.S., London, Asia and the Middle East, and I am eager to help the team grow Harrys on a global scale.”
CEO Steven Newey will continue leading the brand in his current role.
“I am incredibly excited to partner with Charles in bringing the Harrys of London brand to the next level,” Newey said in a statement. “Charles brings a unique vision and background that will be invaluable in our future growth. We are looking forward to taking full advantage of the new horizons this partnership will open up.”
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Harrys is being acquired from shareholders led by Palladin Consumer Retail Partners, a Boston-based private equity firm founded in 1998 that focuses primarily on the consumer products sectors in North America and Europe. Palladin acquired a majority stake in the company in 2014.
Harrys of London was founded in 2001 with the mission of using new technologies to create high-end dress shoes. The first retail location opened in London’s Mayfair in 2008. Since then, Harrys has moved that location to Burlington Arcade and expanded into the Middle East, with locations in Kuwait, United Arab Emirates and Saudi Arabia. The company’s products are also available at department and specialty stores worldwide, including Barneys, Harrods, Holt Renfrew, Lane Crawford and Mr. Porter.
Today the label operates out of London’s Chelsea neighborhood.
Cohen’s real estate holdings include over 12 million square feet of Class A and design center properties in the U.S.
Cohen — also the owner and chairman/CEO of Cohen Media Group — recently acquired a majority stake in Savile Row luxury menswear house Richard James.
Harrys of London was advised by BDA Partners and Latham and Watkins LLP for the acquisition. Cohen was advised by Threadstone Partners LP and Pinsent Masons.
Other terms of the transaction were not disclosed.
