United Kingdom-based Pentland Brands Limited announced an investment in Santa Barbara shoe designer SeaVees for an undisclosed amount March 15.
The deal is part of an ongoing portfolio development program by the company, Pentland said in a news release.
The deal will help SeaVees, a brand established in the 1960s and relaunched in 2010, grow domestically and internationally, said SeaVees CEO Steven Tiller.
“Our portfolio development program looks for high potential, high growth brands, so SeaVees is a great addition to our portfolio of footwear brands,” Chirag Patel, Pentland global strategy director, said in the release, adding that the company has “a strong track record of investing in brands in the long-term.”
“Our plan is to give Steven and his team space to build the SeaVees brand, while giving them access to the size and scale of our network that, as a global brand management company, Pentland can offer.”
With more than 19,000 employees worldwide, Pentland owns sports, outdoor and fashion names like Speedo, Berghaus and Canterbury of New Zealand, among others, with $3 billion in annual sales.
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