Chico's Sells Boston Proper to Brentwood Associates
Posted on January 20, 2016
Women's apparel retailer Boston Proper has been sold. The company was sold by Chico's to Brentwood Associates, a private equity investment firm based in Los Angeles. Boston Proper is headquartered in Boca Raton, Florida.Boston Proper sells apparel and accessories through its direct mail catalog and its retail website at bostonproper.com. A photograph from a recent catalog is pictured above. Chico's closed Boston Proper's 20 stores last year. Chico's paid $200 million for Boston Proper when it acquired the company in 2011.
Boston Proper President and CMO Sheryl Clark is staying on with the company to rebuild it as a direct-to-consumer lifestyle brand. Clark says in a statement, "Boston Proper has been catering to a very particular niche for nearly 25 years. The demographic can best be described by its attitude – 'wear it like no one else. These women don't fall into traditional categories. What they do have in common is the desire to feel sexy but polished in such a way that's impossible to ignore. The Boston Proper woman is on trend, but she makes it her own in unexpected ways, and she looks to us for fashions she knows no one else will be wearing."