AloStar Provides Distinctive Apparel $5MM Credit Facility
AloStar Business Credit has provided a $5 million senior secured revolving credit facility to Distinctive Apparel.
Randolph, MA-based Distinctive Apparel is an online and catalog retailer of women’s apparel marketed under the Chadwicks of Boston and Metrostyle brands. The company sells a mix of apparel styles to a target market of women ages 40 to 60.
“With the rise of online shopping, Distinctive Apparel is developing a niche in the women’s apparel industry,” said Andy McGhee, president of AloStar Business Credit. “We’re thrilled to provide the capital they need to grow these two brands and reach their business goals.”
“We are very pleased to be working with the team from AloStar Business Credit as we continue to grow our beloved brands. They took the time to understand our business model and have been a valuable partner to DAI from day one,” said Aldus H. Chapin II, president and CEO of Distinctive Apparel, Inc. “We look forward to a long and fruitful relationship with AloStar.”
Distinctive Apparel is positioned for future growth as it continues to transition traditional catalog customers to online shopping. According to Forrester Research, online shoppers in the U.S. will spend $327 billion in 2016, up 45% from $226 billion in 2012 and 62% from $202 billion in 2011.