NEW YORK, Jan. 20 /PRNewswire/ -- Bruderman Brothers, Inc., as exclusive advisor, has structured and arranged a minority equity investment in the prestigious fashion label, Dennis Basso. The capital infusion provides funding for the company's recent and future growth initiatives. The minority equity investment was the second transaction that Bruderman Brothers arranged for Dennis Basso in 2009. Earlier in the year, Bruderman Brothers structured and arranged a revolving credit facility and term loan for the company.
"This capital infusion will allow us to continue to pursue our ambitious growth initiatives in 2010," said Dennis Basso. In 2009, the company experienced substantial growth, opening new retail locations in London (Harrod's) and Moscow (TSUM). In addition, the company increased its wholesale distribution by opening new accounts in key international fashion markets. "We are thrilled to have opened two new retail locations in 2009 along with various wholesale accounts, all in essential, high-fashion markets. These initiatives will have a significant impact on the continued development of the Dennis Basso label worldwide. The company would not have experienced this growth without the incredible dedication from Bruderman Brothers," said Basso.
The company has been working with Bruderman Brothers for more than two years under a consulting agreement and recently engaged the firm's investment banking division to raise capital needed to fund the company's expansion plan. Bruderman Brothers has written and refined Dennis Basso's business plan, developed its growth plan, and secured capital to fund growth initiatives. "We could not be happier with the work that Bruderman Brothers has performed for our company in recent years. Their ability to secure this capital in the midst of the credit crisis and a challenging retail environment is truly incredible," said Basso.
The Dennis Basso label has performed exceptionally well despite the recent global economic downturn. While many of its competitors have made significant reductions in retail stores or gone out of business, the Dennis Basso label has grown substantially and opened retail locations in some of the world's most ideal fashion markets. "We are extremely excited about the future potential of the Dennis Basso label and look forward to continuing to work with this exceptional company and group of people. In contrast to the reputations of many successful designers, and in addition to being incredibly talented and driven, Dennis is kind, down to earth, and exceptional to work with," said Matthew J. Bruderman, Chairman of Bruderman Brothers, Inc.
About Bruderman Brothers, Inc.
Bruderman Brothers, Inc. is a New York-based, privately owned broker-dealer. The firm's business segments consist of investment banking, merchant banking, and consulting services. The firm is currently owned and operated by the third generation of the Bruderman family. The firm is registered with the U.S. Securities and Exchange Commission (SEC), and is a member of both the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
About Dennis Basso
The Dennis Basso brand is one of the world's most prestigious fashion labels. Products under the Dennis Basso label are worn and adored by socialites and celebrities alike including Brooke Shields, Eva Longoria, Ivanna Trump, Elizabeth Taylor, Hillary Clinton, Natalie Cole, Lorraine Bracco, Liza Minnelli, Star Jones, Melania Trump and Janet Jackson, among many others. In addition, Dennis Basso products have also been featured on screen, worn by Renee Zellweger and Catherine Zeta-Jones in "Chicago", Meryl Streep in "The Devil Wears Prada", Jennifer Lopez in her hit video "Hold You Down", and most recently by Nicole Kidman and Penelope Cruz in "Nine". The brand's handcrafted products are manufactured with the finest materials and feature designs with timeless appeal. Dennis Basso products are sold at beautifully built and merchandised company retail stores located in New York City (Madison Avenue), Aspen (Little Nell Hotel), and Chicago (North Michigan Avenue.) In addition, the company operates shop-in-shop locations in London (Harrod's) and Moscow (TSUM). At wholesale, the company offers products under the Dennis Basso label at Saks Fifth Avenue, Harvey Nichols, and Bloomingdales.
SOURCE Bruderman Brothers, Inc.