Assembled Brands closed a $3 million senior secured credit facility for the Samuel Hubbard Shoe Company.
The Samuel Hubbard Shoe Company, founded in 2013 by Bruce Katz, is an American footwear brand designed in Mill Valley, CA, and crafted in Portugal. Hubbard’s are sold throughout the U.S. as well as in Sweden, Finland, Holland and Belgium.
“We are pleased to be working with a ‘bank’ that understands the direct to consumer marketplace,” Katz said. “With this credit line, which was established in early February, we will be able to keep up the pace of our new product development effort which fuels our growth over time.”
Samuel Hubbard will join a portfolio at Assembled Brands that includes Khaite, Juneshine, Felix Gray and Richer Poorer. In the past eight weeks, Assembled Brands announced a series of financings, including a $4 million credit facility with QALO, a $1.5 million facility with Koral and a $1 million facility with Wandering Bear.
“We’re incredibly excited to welcome Samuel Hubbard to the AB portfolio,” Michael Lipkin, president and chief operating officer of Assembled Brands, said. “Our facility will provide Samuel Hubbard the stability and resources necessary to scale its visibly impressive growth trajectory to date.”
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