Nexus Capital buys Coldwater Creek and Soft Surroundings in ownership shift
What's the deal? Nexus Capital ManagementDealroom has a profile for this one. Try Dealroom → has completed its acquisition of CW Holdings, parent of women's apparel brands Coldwater Creek and Soft SurroundingsDealroom has a profile for this one. Try Dealroom →, from Newtimes Group. Terms were undisclosed. The Los Angeles firm buys a direct-to-consumer platform serving women 45 and older through e-commerce sites and catalogs.
What each side brings: Coldwater Creek, founded in Sandpoint, Idaho in 1984, sells apparel, shoes, and accessories. Soft Surroundings, founded in St. Louis in 1999, focuses on comfort and artisanal details. Nexus, founded in 2013, describes itself as an alternative asset manager focused on consumer brands.
Why now? This is a change of ownership, not a new tie-up. Coldwater Creek acquired Soft Surroundings out of Chapter 11 in December 2023, after the latter shut all 44 stores and shifted to digital-only sales.
What's the endgame? Nexus says it wants to build on the brands' loyal, repeat customer base. "We are excited to partner with management to continue to foster the brands' unique legacies and capitalize on the significant growth opportunities ahead," said Jonathan Whitlock, a partner at Nexus.
What could go wrong? The announcement names no price and no specific operating plan, leaving open whether Nexus will expand the business or pursue a broader turnaround. With both brands now store-free, their prospects hinge on sustaining the direct-to-consumer customer base.
The signal: The deal fits a wider pattern of apparel brands changing hands as owners seek to revive or reposition them, with recent examples including Everlane's sale to Shein and the Marc JacobsDealroom has a profile for this one. Try Dealroom → transaction involving WHP GlobalDealroom has a profile for this one. Try Dealroom → and G-IIIDealroom has a profile for this one. Try Dealroom →. For now, its significance is mainly a new private-equity owner for two legacy women's brands.
Read more: prnewswire.com
Image credit: Generated with Gemini
