Sycamore Partners, a private equity firm that specializes in investing in consumer, distribution, and retail businesses, has announced the creation of a new company called KnitWell Group.

This group includes well-known clothing brands like Ann Taylor, LOFT, and Talbots. These brands together make more than $3 billion in sales each year. KnitWell will also continue to oversee Lane Bryant, a popular brand for plus-size women's apparel. With these brands combined, KnitWell becomes one of the biggest specialty apparel companies in the United States.

KnitWell's name represents the idea that while each brand is strong on its own, when they come together, they form a powerful retail organization that aims to meet customers wherever they are in their shopping journey.

Lizanne Kindler, the current CEO of Talbots, will lead KnitWell Group as the Executive Chair and CEO. She will be joined by a team of experienced retail executives in the Office of the Executive Chair. Additionally, senior leaders from each of the brands will provide support, all working to meet the unique needs of their customers.

Ms. Kindler mentioned, "KnitWell is a collection of strong brands that, together, have been providing customers with fashion choices for nearly 300 years. Our brands have a deep connection with the customers they serve, which is our main focus every day. With this in mind, we believe that this new structure will help us bring brands and people closer by offering more resources and capabilities, benefiting from economies of scale, and providing enhanced value. We're enthusiastic about the opportunities ahead and thankful to our 30,000 associates who are part of this new chapter."

Stefan Kaluzny, Managing Director of Sycamore Partners, also added, "Lizanne and her team have done an outstanding job in the past decade, successfully revitalizing and growing these iconic American brands, such as Talbots, Ann Taylor, and LOFT. Their consistent and focused approach, built on a successful playbook, not only sets up the current brands in the KnitWell portfolio for success, but also paves the way for potential future brands. We're excited to continue working with Lizanne and the entire team."