Privé Revaux Takes on Private Equity Partner

TSG Consumer Partners has taken a minority stake in the affordable eyewear brand.

Privé Revaux Eyewear has a new minority owner.

The eyewear brand that counts celebrities Jamie Foxx, Hailee Steinfeld, and Ashley Benson as founders has received an undisclosed investment from private equity firm TSG Consumer Partners.

The investment coincides with the first anniversary of the launch of the affordable eyewear brand.

As a result of the investment, he said the plan is to embark on a three-pronged strategy to grow. It includes expanding the brick-and-mortar retail presence “dramatically,” he said. The brand operates a store on 42nd Street near Bryant Park in New York and “the goal is to open up a couple more in the city.”

In addition, the company’s kiosk concept that it operates in malls and other retail stores will be expanded. There are currently four in Miami and eight in the Tristate area, he said, and 11 more are scheduled to open in Los Angeles on Aug. 1.

The third prong is the brand’s wholesale initiative. Privé Revaux is carried in retailers including Nordstrom, Express, American Eagle Outfitters, QVC, DSW and others.

The brand is about to reveal its first international location. For that launch, Privé Revaux will create a special World Cup frame called Le Champion to commemorate the country’s recent win.

Other plans include additional celebrity collaborations. The brand offered a capsule with “Riverdale” star Madelaine Petsch that was successful, so part two is in the works. There is also a special collection called R&M, created by the company’s creative directors, celebrity Hollywood stylists Rob Zangardi and Mariel Haenn.

In addition, Privé Revaux will create collections around its other celebrity partners, Steinfeld and Benson. So far, Foxx has held off on having his own line, opting instead for wearing pieces from the Petsch collection. He said the actor is heavily involved in the business and believes in its vision to offer high-quality affordable eyewear to the masses.

Foxx said collaborating with TSG “is an honor. One look at their portfolio and you know these guys mean business. I couldn’t be more excited about Privé Revaux’s future.”

Blythe Jack, managing director at TSG, said his company was drawn to Privé Revaux’s “dynamic mix of omnichannel distribution, high-quality affordable products and effective influencer marketing” that has “quickly proven to be a disruptive force in the eyewear space — selling more than one million pairs of sunglasses in its inaugural year. The company is clearly poised for significant global growth, and we’re incredibly excited to collaborate with Privé Revaux as it looks to further accelerate its rapid adoption by fashion-forward consumers worldwide.”

Privé Revaux was founded in June 2017 on the premise of making premium sunglasses at an affordable price. It offers more than 100 hand-crafted and polarized designer frames that retail for $29.95. In France, the frames will sell for 34.95 euros.

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