Press Release, 15th May 2017
Harrys of London has been acquired by Charles S. Cohen, US-based real estate and media entrepreneur.
Contemporary footwear and accessories brand Harrys of London today announces a strategic alliance with New York based Charles S. Cohen to facilitate the brand’s growth strategy.
Mr. Cohen has acquired a 100% interest in Harrys of London and will assume the position of Chairman, allowing him to play an active role in assisting the Harrys of London brand in its future global growth strategy.
Mr. Cohen said “Harrys of London has been a brand I have supported and respected for a long time, bringing a unique mix of luxury, contemporary craftsmanship and cutting-edge technology and design. I am excited to have this once in a lifetime opportunity to partner with the brand and work closely with Steven and the rest of the team. We see huge potential for expansion across the US, London, Asia and the Middle East, and I am eager to help the team grow Harrys on a global scale.”
CEO Steven Newey will continue leading the highly respected brand in his current role, bringing extensive experience and knowledge of the category and the brand.
According to Mr. Newey, “I am incredibly excited to partner with Charles in bringing the Harrys of London brand to the next level. Charles brings a unique vision and background that will be invaluable in our future growth. We are looking forward to taking full advantage of the new horizons this partnership will open up.”
Harrys of London is being acquired from shareholders led by Palladin Consumer Retail Partners, a Boston-based private equity firm founded in 1998 that focuses primarily on the consumer products sectors in North America and Europe. Palladin acquired a majority stake in Harrys of London in 2014.
Harrys of London was founded in 2001, with the mission of using the latest technology to create high-end dress shoes. The first retail location opened in London’s Mayfair in 2008. Since then, Harrys of London has relocated its London location to Burlington Arcade and expanded to the Middle East with locations in Kuwait, United Arab Emirates and Saudi Arabia. Harrys of London products are also available at prestigious department stores and specialty stores worldwide including Barneys, Harrods, Holt Renfrew, Lane Crawford and Mr. Porter.
Operating out of London’s Chelsea neighborhood, Harrys of London is heavily influenced by innovation, technology and the city itself which is at the core of the brand’s DNA. The brand is making a style statement by designing directional footwear and accessories collections while simultaneously responding to the needs and wants of the modern man. Constantly evolving and innovating through use of latest fabrics and design, all Harrys of London products come with Technogel® technology.
Mr. Cohen is recognized for bringing great style and design to his real estate holdings of over 12 million square feet of prime Class A and design center properties across the United States. Mr. Cohen also recently acquired a majority stake in Savile Row luxury menswear house Richard James.
Mr. Cohen is the Owner and Chairman/CEO of Cohen Media Group, an independent film production and distribution company that owns an extensive library of classic films including Buster Keaton, Douglas Fairbanks, Alfred Hitchcock, Luis Bunuel, as well as a library of classic Merchant Ivory films. Cohen Media Group is an active distributor of independent and foreign language and art-house films throughout North America and has released over 64 films to date. Cohen Film Collection, Mr. Cohen’s library division, has restored and distributed over 200 classic films. In partnership with Amazon Studios, Cohen Media Group acted as the United States distributor of recently released The Salesman, which won the 2017 Academy Award for best foreign-language film.
Harrys of London was advised by BDA Partners and Latham and Watkins LLP. Charles S. Cohen was advised by Threadstone Partners LP and Pinsent Masons.