HIG Growth Partners has partnered with Colleen Winter and Debra Cannon, the owners of LuLu*s Fashion Lounge, to make a strategic investment in the company.
Founded in 1996 and headquartered in California, LuLu*s is an e-commerce retailer of young women’s apparel, shoes and accessories.
Winter says: “We are very excited about this partnership with HIG and the shared vision we have for the next stage of LuLu*s growth. HIG’s investment will provide us the capital and strategic resources necessary to grow the LuLu*s brand.”
John Kim, a managing director with HIG Growth Partners, says: “LuLu*s is an emerging market leader that provides tremendous value to consumers and suppliers in the fastest-growing segment of e-commerce. We are excited to partner with Colleen, Debra and the entire LuLu*s team to continue the Company’s strong growth trajectory, grow the LuLu*s brand, and introduce the LuLu*s experience to an even greater audience of consumers.”
As part of the investment, John Kim and Evan Karp from HIG Growth Partners will join the LuLu*s board of directors. The company has also named to its board Shelley Nandkeolyar, who brings over 20 years of experience that span both apparel and direct-to-consumer e-commerce, including serving as president of Home Depot Direct Brands, vice president of e-commerce at Williams-Sonoma and president/CEO roles at several apparel retailers.
