NEW YORK, Jan. 14, 2014 /PRNewswire/ – ZACHARY PRELL, a contemporary sportswear brand for men, announced today that it has raised $15 million in a Series A financing round from strategic investor TAL Group. The funding will be used to accelerate expansion of the brand, its operational infrastructure and its e-commerce platform. The New York City-based menswear brand previously raised seed financing from angel investors. As part of the Series A round, Roger Lee, CEO of TAL Group, has joined the company's Board of Directors.
Zachary Prell, the brand's Founder and CEO, entered the fashion industry with an unconventional background in finance and venture capital and an entrepreneurial vision for solving a fashion challenge of his own: to create a modern sport shirt with an updated fit and stylish versatility. Starting from scratch, Zachary launched his namesake brand in 2005 while earning an MBA at Columbia Business School. The initial collections sold out quickly due to consumers' positive response to the brand's signature fit, smart detailing and luxurious fabrics.
ZACHARY PRELL continues to feature an innovative collection of sport shirts that resonates with men seeking better-fitting, versatile and high-quality contemporary clothing. Since its debut, the company has grown significantly in its New York City headquarters and expanded its collection to include a well-edited assortment of sport shirts, knits, outerwear, sport coats, sweaters and swimwear.
"We're extremely proud to announce our Series A financing round with investment from TAL Group," said Zachary Prell. "We've had a long-standing manufacturing partnership with TAL Group and I'm especially pleased to further strengthen our strategic relationship with this financing. TAL Group has an exceptional knowledge of, and experience in, the menswear industry and a unique long-term investment approach that will enable us to build a comprehensive lifestyle brand."
"I'm very excited about our investment in ZACHARY PRELL," said Roger Lee, TAL Group CEO. "We've closely monitored ZACHARY PRELL through our multi-year manufacturing relationship and are impressed with the company's vision for developing a compelling lifestyle brand. With ZACHARY PRELL's premium department store and specialty store distribution and its profound attention to product quality and fit, we believe the company is well-positioned to become a leader within the overall apparel industry."
About ZACHARY PRELL
Launched in 2005, ZACHARY PRELL manufactures, markets and sells a collection of contemporary sportswear for men, including sport shirts, knits, outerwear, sport coats, sweaters and swimwear. The brand is available in over 200 stores throughout the United States, including Neiman Marcus, Nordstrom and Saks Fifth Avenue as well as leading specialty retailers such as Boyds in Philadelphia, Andrisen Morton in Denver and GARYS in Newport Beach. The company is headquartered in New York City and sells its collection online at www.zacharyprell.com.
About TAL Group
TAL Group, headquartered in Hong Kong, is one of the world's leading garment manufacturers with manufacturing facilities in Thailand, Malaysia, Indonesia, Vietnam and China. TAL Group also operates The Apparel Group (TAG) with offices in New York and Dallas. TAG is a men's and women's wholesale apparel provider to many brands and department stores throughout the United States, including Dillard's, Nordstrom, Neiman Marcus, Lord & Taylor, Men's Warehouse, Coldwater Creek and Orvis. In addition to wholesale, TAG operates its own men's and women's brands including Enro, Maker & Company, Foxcroft and Paperwhite. TAG also operates a state-of-the-art third party logistics warehouse in Dallas. The warehouse is located within a free trade zone allowing its customers to use the warehouse to easily distribute to Canada as well as other nearby countries.
SOURCE ZACHARY PRELL