Brendan Hoffman, CaaStle's Christine Hunsinker, form 'P180' firm; Hoffman takes stake in Elyse Walker.
He’s formed a company with an innovative business model called P180, in partnership with CaaStle founder and chief executive officer Christine Hunsicker.
“P180 is a financing and operating company,” Hunsicker, cofounder and chair of P180, told WWD. “We will be deploying some capital into very strong brands and retailers that need a little bit of cash, and also operating a large portion of their digital businesses….We’ve raised some capital. Our first investment is, the designer retailer operating six Elyse Walker designer stores and two Towne specialty stores, which also carry designer labels though with an assortment skewing more casual.
Asked about additional investments, Hunsicker replied, “We’re in the late-stage process with a few very well-known brands.” She said P180 would disclose another investment in about four to six weeks. “The orthodox path is leaving our industry in tatters. A path that’s fundamentally different is needed.”
Getting an infusion of capital from P180 suggests some challenges at Elyse Walker. She characterized business as “hard but solid,” with one or two stores falling flat or behind, while the two Manhattan stores, in TriBeCa and on Madison Avenue on the Upper East Side, are doing “really well.”
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