Investment firm P180 has acquired a minority stake in American designer label Altuzarra, marking its first monobrand investment. Financial details of the deal have not been disclosed.
Altuzarra, led by creative director Joseph Altuzarra and CEO Shira Sue Carmi, is a well-known name on New York runways. The company has been privately funded since 2020, when it repurchased the minority stake that Kering had held since 2013.
P180, founded earlier this year, aims to boost the profitability of apparel brands and retailers. The firm invests in or acquires leading brands that could benefit from CaaStle’s technology, a B2B platform specializing in “Clothing as a Service” (CaaS). This service focuses on the U.S. and U.K. markets.
Founded by retail veterans Brendan Hoffman and Christine Hunsicker, who also co-founded CaaStle, P180’s first investment was in luxury retailer Elyse Walker in May. As part of this partnership, P180 and Elyse Walker plan to enhance its digital experience by integrating CaaStle’s technology, starting with a “Borrow” collection offering high-end contemporary brands available for rental.
For Altuzarra, the investment will support its global expansion and digital growth. While P180’s focus is on leveraging CaaStle’s technology, it is not limited to adding rental services. The firm also provides data analytics to help brands improve purchasing, merchandising, and reduce markdowns. P180 suggests that even less commercial statement pieces could be successful through temporary rentals.
Altuzarra is expected to maintain its creative direction under Joseph Altuzarra, with P180 managing e-commerce and rental operations in the coming months.
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