Chico’s FAS has sold its Boston Proper women’s apparel business to a Los Angeles-based, consumer-focused private equity firm.
Brentwood Associates, whose portfolio includes J. McLaughlin and Soft Surroundings, announced Tuesday it has acquired the women’s apparel brand. Terms of the agreement were not disclosed.
“We see tremendous opportunity in Boston Proper’s direct-to-consumer channels, as the focus shifts back towards the brand’s unique customer value proposition," said Roger Goddu, partner with Brentwood Associates.
Brentwood said it will work with existing Boston Proper ]management to refocus on “building a unique and compelling direct-to-consumer lifestyle brand through Boston Proper’s print, digital and social channels.”
“We will reignite the passion around the brand, strengthen the quality of our service and further enhance the personal relationships that drive our business,” said Boston Proper president and chief merchandising officer Sheryl Clark.
Chico’s purchased Boston Proper in 2011 and, in 2013, extended the catalog and online brand into the brick-and-mortar space. The stores, however, failed to perform to expectations. In August 2015, the retailer announced it was closing all 20 Boston Proper stores.