04 Oct, 2021, 15:00 ET
SYDNEY, Oct. 4, 2021 /PRNewswire/ -- Australia's leading premium home furnishings and lifestyle brand, Coco Republic, is pleased to announce a new partnership with Los Angeles based STORY3 Capital Partners ("STORY3"), positioning the company for domestic and international expansion.
Coco Republic has been an admired, family-operated fixture in Australia's luxury lifestyle sector for more than 40 years, led by Chairman and Founder, Paul Spon-Smith. The business is deeply embedded in Australian culture and design, having used market insights and a deep consumer understanding to stay at the forefront of omni-channel Australian retail through thought leadership, product and technology innovation, and data analytics.
After having spent two decades helping steward Coco Republic, Anthony Spon-Smith will assume the role as Co-CEO in conjunction with the investment. "Today is an important milestone in Coco Republic's growth journey, with the announcement that STORY3 is joining the business as a partner to provide important capital and leading disruptive brand and retail expertise. Together we look to succeed in our goal of becoming a leading global direct to consumer lifestyle brand," Mr. Anthony Spon-Smith said.
Mr. Peter Comisar, STORY3's Managing Partner, commented: "We are delighted to be a value-added partner to Anthony, Nic Foster, Jeremy Byrne and the entire team at Coco Republic for the company's important next chapters. Coco Republic's compelling product, design and end-to-end service takes the friction out of the customer's journey to extraordinary living and working spaces. Over the next decade, we will see radical transformation of and investment in American residential real estate and communities. Work-office flexibility and 'stay at home' will accelerate home purchases, renovation, relocation, vacation home ownership and home office furniture and furnishing needs. Coco Republic's luxury style, product quality and design services fill a void for affluent and aspiring younger, more contemporary consumers."
Coco Republic's Australian design ethos has already seen strong receptivity from US wholesale partners. Coincident with its investment in Coco Republic, STORY3 will make a parallel investment in the storied California based home retailer H.D. Buttercup who have been a wholesale partner for Coco Republic in the US.
Evan Cole, founder of H.D. Buttercup commented, "Coco Republic's heritage, sophisticated attention to detail, and ground-breaking innovation offers optimally priced luxury with the finest craftsmanship and quality. Our customers have found Coco Republic to be the most exciting brand we have worked with in many years."
About Coco Republic:
Family owned and operated for over 40 years, Coco Republic has established itself as one of Australia and New Zealand's leading furniture and design brands.
Coco Republic's design heritage is woven into the fabric of the company, offering not only sophisticated attention to detail but ground-breaking innovation combined with the finest craftsmanship and quality. With retail showrooms across Sydney, Melbourne, Brisbane, the Gold Coast, Perth, Canberra and Auckland, Coco Republic offers an extensive range of chic, discreetly elegant furniture and stylish homewares.
Full-service divisions Coco Republic Interior Design, Coco Republic Property Styling and the Coco Republic Design School complete a diverse and globally unique design offering.
STORY3 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 $800 million of capital transactions within our 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 www.story3capital.com.
SOURCE STORY3 Capital Partners
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