Ann Taylor, Loft and Talbots have come together under a new holding company dubbed KnitWell Group, according to a Wednesday press release from owner Sycamore Partners. KnitWell will be providing services to plus-size specialist Lane Bryant as well, Sycamore said.
The brands now under the KnitWell umbrella generate more than $3 billion in annual sales, Sycamore said.
The move rebuilds a conglomerate of apparel brands featuring Ann Taylor, Loft and Lane Bryant, which were previously in the stable of the Ascena Group. That portfolio was dismantled three years ago during the company’s bankruptcy. Sycamore acquired Ann Taylor, Loft, Lane Bryant and Lou & Grey during that process.
The private equity firm, which owns a host of other retailers and brands including Staples, Belk and The Limited, has owned Talbots since 2012.
Lizanne Kindler, who has been Talbots CEO, is now chief executive officer and executive chair of KnitWell Group.