Rodd & Gunn (www.roddandgunn.com) and Winona Capital (www.winonacapital.com) announced today the Chicago-based private equity firm has made a minority investment in Rodd & Gunn. As a well-established, timeless menswear brand, Rodd & Gunn will utilise the new partnership to fuel the North American growth of the brand.
This follows the New Zealand-owned menswear retailer stepping up its global expansion plans with a flagship showroom in New York at the beginning of this year. Its first US store currently sits within 2400 sqm of floorspace in the Trunk Club showroom on Madison Avenue.
That marked a major diversion from its prior strategy of selling through wholesalers.
“Winona is proud to partner with Mike Beagley and the rest of the Rodd & Gunn team,” said Luke Reese, MD of Winona Capital, who will join the Rodd & Gunn board of directors. “Rodd & Gunn is a leading brand with a proven record of retail success in NZ and Australia and a strong start in the North American market. We look forward to helping expand its North America presence.”
With the brand’s heritage dating back to 1946, Rodd & Gunn’s philosophy is to create garments imbued with contemporary style that are designed to stand the test of time. Every Rodd & Gunn collection is built around authentic pieces that can be effortlessly styled. Exemplified by its slogan, “New Zealand escapism”, the company aspires to create designs that will transport the consumer to a place that is both relaxed and authentic.
“We are excited to partner with Winona Capital given its track record of success with Peter Millar and KJUS,” said Mike Beagley, CEO of Rodd & Gunn. “Winona is a great match for Rodd & Gunn; its industry knowledge will be especially valuable as we embark on the next phase of our growth.”
Beagley had pointed out when setting up its showroom in New York that the US is the most competitive market in the world, but an important stepping stone. “We’ve been looking to enter other markets like the Middle East and the first thing every potential partner asks is if we’re in the US, and how we’re doing there.”
Rodd & Gunn was founded in NZ in 1946.
