Hobo Finds Some New Friends

Hobo Bags, the handbag and accessories brand playing in the affordable luxury space, attracted some private equity money to help speed its growth. 
Rick Perkal’s Firelight Capital Partners, which focuses on helping companies accelerate their growth, led an investment round in Hobo. The Annapolis, Md.-based company also received funding from Satori Capital, which specializes investments based on the principles of conscious capitalism.
Terms of the funding round were not disclosed. 
Hobo sells its shoulder bags, totes, wallets and other leather goods online and through department stores and boutique retailers around the world. It was founded in 1991 by David Brewer, Koren Ray and her mother, Toni Ray. The husband-and-wife team of Brewer and Koren Ray took over leadership of the brand in 2006 and serve as chief executive officer and chief visionary officer, respectively.  
Perkal, who leads Firelight as ceo and managing partner, said: “Hobo’s authentic, high-quality leather goods perfectly embody the company’s design philosophy: beauty, soul and purpose. Hobo’s loyal customers already know and love its beautiful and long-lasting products. We believe a broader market and demographic will soon discover their new favorite handbag or wallet at Hobo.”
Firelight is looking to bring some new talent into the brand to accelerate its expansion. 
Ray said

Follow WWD on Twitter or become a fan on Facebook.

Read More…

Source link


Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
Rachel Meadows

Rachel Meadows

Trending topics news writer who enjoys cooking, walking her dog and travel.

Related Posts