LOS ANGELES and SYDNEY, Aug. 19, 2022 /PRNewswire/ -- The new financial year marks a new beginning at Coco Republic with two key appointments to spearhead the accelerated global expansion, initially focused on the California market. Coco Republic is pleased to announce its executive leadership team has been significantly bolstered by the appointment of Eric Bauer as Global CEO and Skye Westcott as President of North America.
Bauer, a seasoned business leader has more than 30 years of leadership experience in developing and executing significant global growth strategies across industries at leading public and private global brands including International Vitamin Corporation, Gap, and PepsiCo.
Westcott brings nearly 40 years of omnichannel leadership experience in merchandising, marketing, product design and global sourcing. Most recently, Westcott was part of the leadership team at Ballard Designs and previously held senior positions at Arhaus, Lillian August Designs, as well as Coco Republic-owned brand, HD Buttercup.
Bauer and Westcott's collective extensive experience will strongly complement the current team, building on the solid foundation and growth potential, positioning the company for global expansion with the US as the first new priority market.
In welcoming this change, Coco Republic Chairman Peter Comisar and Managing Partner of control shareholder STORY3 Capital Partners commented, "Eric has a demonstrated track record of operational excellence in managing global organizations. His disciplined financial and operational capabilities are a perfect complement to the creative leadership of founding family member and creative director Anthony Spon-Smith. Skye is a world-class merchant with an unparalleled understanding of the US consumer and furniture industry. She is an invaluable addition to our US team as we prepare to introduce Coco Republic to the California market."
Bauer added, "Coco Republic is an exciting opportunity to introduce the leading Australian furniture and lifestyle brand to a global consumer. We believe that our product design ethos and Australian essence will resonate globally enabling us to build a global community, be an influential design-lead authority and act as a guide to those who seek a well-designed life."
First US Flagship Location Due to Open in
San Francisco in
Coco Republic's design ethos has been well-received by the US market, as seen by its successful US wholesale partnership with Restoration Hardware and HD Buttercup.
Coco Republic acquired all the assets and intellectual property of the storied California home furniture retailer HD Buttercup in October 2021. The Buttercup operations and store base opens the doors to Coco Republic's accelerated regional roll-out. Evan Cole, the founder of HD Buttercup and furniture industry veteran, has assumed a position on the Company's Board of Directors.
In October 2022, Coco Republic will anchor its highly anticipated US brand launch with the first flagship location in Union Square, San Francisco. In late 2022, HD Buttercup's Culver City location will be converted into Coco Republic's second flagship location.
"We are incredibly excited to introduce our brand to the California market and inspire a new world of consumers to design beautiful interiors. Our partnership with STORY3 has been a tremendous catalyst in executing our strategy and the new growth capital investment is a testament to the strength of our brand and the potential we see ahead," said Creative Director and Vice Chairman Anthony Spon-Smith. The leadership additions of Bauer and Westcott will play a significant role in cementing the brand globally as a leading design-led Australian luxury furniture and lifestyle brand and leading the next phase of the company's growth and success.
ABOUT COCO REPUBLIC
Established in 1979, Coco Republic is recognized today as one of Australia and New Zealand's leading premium furniture and design brands. Renowned for its state-of-the-art innovation and paring of luxury textures and materials, the brand has a striking and unique aesthetic. Coco Republic cherishes the art of craftsmanship, resulting in timeless and immaculate pieces.
Led by Anthony Spon-Smith, Australia's most talented visionary in product design, Anthony's eye for detail and forward thinking mindset has propelled the brand to new markets, attracting customers across the globe. Coco Republic has 15 showrooms in Australia and New Zealand, with an e-commerce site servicing both markets. This Fall, the brand will launch in the United States with plans to expand its retail footprint, starting with their first store in San Francisco. For more information, please visit cocorepublic.com.au.
ABOUT STORY3 CAPITAL PARTNERS
STORY3 Capital Partners is a leading alternative investment manager exclusively focused on compelling consumer facing companies, disruptive brands and businesses at the intersection of consumer and sustainability.
Since the firm's inception in October 2018, the STORY3 team has sourced, arranged and executed over $1 billion of capital transactions within its thesis and sectoral focus.
STORY3 employs a flexible investment strategy and pairs deep industry expertise, global relationships, operating support, and unique transactional experience to support value creation for its partners. For more information, please visit story3capital.com.
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