Private equity firm Permira has acquired a majority stake in Reformation, a sustainable fashion brand.
Reformation was founded in 2009 and designs and manufactures limited edition collections for women using sustainable methods and materials. It is a 100% carbon, water and waste neutral company and uses deadstock and eco fabrics to track the environmental impact of every product.
The business is headquartered in Los Angeles and has 14 stores.
As part of the transaction, Reformation Founder Yael Aflalo will remain CEO of the business and a significant shareholder, while Hali Borenstein will remain President.
Yael Aflalo said: “I founded Reformation with the vision of creating a brand that appeals to fashionable consumers, but doesn’t destroy the planet. By incorporating better practices throughout our supply chain, we are able to create beautiful clothes at a fraction of the environmental impact of conventional fashion. When we met with the Permira team, it was clear that they shared our commitment to sustainability, and have a strong understanding of how to best navigate the complex and rapidly changing consumer market.“
David Brisske, Permira Principal, added: “It’s rare for a business to have both tremendous brand strength and first-rate omnichannel capabilities, as Reformation has. We are thrilled to support Yael and Hali as they continue to grow Reformation in the U.S. and abroad.”
Permira will support Reformation in expanding its e-commerce strategy and retail footprint both domestically and internationally, and launching new product categories.