SECOND AVENUE CAPITAL PARTNERS PROVIDES $12.5 MILLION REVOLVER AND TERM LOAN TO CARLISLE ETCETERA, LLC
BOSTON, Massachusetts – September 24, 2019 – Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com), announced today it has provided a $12,500,000 senior secured credit facility to Carlisle Etcetera, LLC (the “Company”), a direct-to-consumer women’s luxury apparel brand.
Founded in 1981, Carlisle Etcetera markets such well-known labels as the Carlisle Collection, Carlisle New York, Per Se by Carlisle, Etcetera, ETC, and E3. The Company sells apparel through a nationwide network of professional stylists who work with clients to create the perfect look for every season. The Company is owned by Hong Kong-based Royal Spirit Group, a leading premium apparel supplier that serves luxury and lifestyle apparel brands around the world.
“In Second Avenue Capital we found a lender who took the time to get to know us and really understands the needs of our business,” said David Rosenberg, CEO of Carlisle Etcetera, LLC. “Our stylist driven selling model is an important differentiator for our business. We needed a lender that could understand this model and lend aggressively on the inventory in this channel as well as our brick and mortar locations.”
Chris O’Connor, President of SACP, said he and his team “recognized the unique characteristics” of the Carlisle Etcetera business model. “We knew how to unlock the value Carlisle Etcetera needed from a lender,” said Mr. O’Connor. “We put together a package that provides flexibility and supports the business’ continued success.”
For over 35 years, Carlisle Etcetera has been dressing discerning women through the Company’s network of stylists around the country. The exclusive collections use European fabrics and artisanal design to create a sense of modern sophistication, timeless elegance and feminine appeal. Carlisle Etcetera’s professionally trained stylists guide fashion choices and work closely with clients to create the perfect look using the Company’s curated collections.
About Second Avenue Capital Partners, LLC – Second Avenue Capital Partners, LLC (www.secondavecp.com), a Schottenstein Affiliate, is a finance company specializing in asset-based loans for the broader retail and consumer products industry. Focused on serving middle-market companies, SACP leverages the experience of retail operators, product merchants, and lenders to provide an array of customized, capital solutions for businesses. This unique merchant perspective gives SACP the ability to recognize and unlock value in assets that other capital providers often overlook or do not understand. The firm’s tailored financial solutions are a vital resource for clients as they seek the capital necessary to effectuate strategy and achieve financial objectives. Headquartered in Boston, Second Avenue Capital Partners also has offices in New York, Columbus, and Los Angeles.
About Carlisle Etcetera, LLC – Headquartered in New York, NY, Carlisle Etcetera LLC (www.carlislecollection.com and www.etcetera.com) is a direct-to-consumer provider of luxury women’s apparel. The Company is owned by the Royal Spirit Group, a leading supplier of luxury and lifestyle apparel brands based in Kowloon, Hong Kong. Carlisle Etcetera sells its products through a network of over 1,000 professional stylists located across the United States. The stylists work with clients through a mixture of in-person, phone, text, and email consultations to create the perfect looks from the Company’s seasonal collections. The Company also maintains six outlet locations and five showrooms in premium retail destinations.