Gordon Brothers, the global asset experts, provided a capital-led solution for Chinese Laundry to sell the company’s footwear inventory through an assignment for the benefit of creditors and winddown physical operations. In addition, the firm acquired the Chinese Laundry brand and related trademarks from CELS Brands and will provide a growth platform for the contemporary footwear brand.
“Chinese Laundry has been a fixture in the footwear industry for many years, and is beloved by consumers and distributors alike,” David Chin, managing director, brands at Gordon Brothers, said. “We’re proud to build upon the legacy started by its founders and continue to grow the brand to bring the portfolio of footwear brands to a wider audience.”
Gordon Brothers will focus on building the individual brands to target specific consumer segments through investment in marketing and expanded distribution through new licensees. Chinese Laundry joins the firm’s portfolio of brands including Nicole Miller, Rachel Zoe and the recently acquired LK Bennett.
“We’re proud to provide a complete solution for the assets that supports the path forward for this well recognized brand, and excited to bring their merchandise to market,” Greg Frattaroli, senior manager, North America commercial and industrial at Gordon Brothers, said. “The sale of approximately 1.5 million pairs of shoes is an excellent opportunity for retailers to acquire in-demand products to enhance their store inventory.”
