P180 takes a minority stake in Altuzarra, aiming to improve inventory management and unlock new revenue streams.
Key Takeaways:
• P180 takes a minority stake in Altuzarra, continuing its strategy to invest in luxury brands with growth potential.
• Brendan Hoffman and Christine Hunsicker co-founded P180 to integrate technology and rental solutions, focusing on inventory monetization.
• Altuzarra will introduce a rental service by the end of 2024, leveraging P180’s expertise.
• P180’s strategy aims to improve profitability through CaaStle’s rental technology and optimized e-commerce operations.
• P180 is building a multi-brand portfolio, following its recent investment in luxury retailer Elyse Walker.
P180, the New York-based investment company co-founded by Brendan Hoffman and Christine Hunsicker, has taken a minority stake in Altuzarra, the luxury fashion brand known for its modern sophistication and sharp tailoring. The investment signals P180’s ongoing strategy to grow brands through operational support and technology integration.
The move follows P180’s recent stake in luxury retailer Elyse Walker, as the company actively pursues investments in brands facing shared challenges. According to Hoffman, P180’s goal is to support “designer-led brands like Altuzarra” by optimizing operations, particularly in inventory monetization and e-commerce.
With P180’s involvement, Altuzarra will introduce a rental platform by the 2024 holiday season, aligning with trends toward sustainable fashion and flexible ownership. P180 will manage Altuzarra’s e-commerce business, freeing the designer and executive team to focus on product development and creative direction. Hoffman emphasized that the rental platform will unlock new revenue streams for Altuzarra, particularly for high-end, special-occasion garments that appeal to consumers looking for variety without ownership commitments.
Joseph Altuzarra, who founded the brand in 2008, expressed enthusiasm about the partnership, noting how P180 and CaaStle’s technological expertise will elevate the business. Over the last five years, Altuzarra has focused on expanding his direct-to-consumer operations, including opening his first store on Madison Avenue. The brand’s top-performing categories, dresses and knitwear, have driven much of its recent growth.
Hoffman described P180’s business model as “private equity-plus”, combining investment with operational oversight. He emphasized that P180’s expertise will help reduce markdown losses by monetizing products more effectively throughout their lifecycle. “Altuzarra’s creative vision, paired with our operational and technology support, will position the brand for sustained profitability,” Hoffman stated.
P180’s rental model, powered by CaaStle’s “Borrow” platform, provides a way for fashion brands to reduce deep discounting by renting unsold inventory. This innovative approach will allow Altuzarra to rent more experimental styles, appealing to customers who prefer to wear statement pieces without committing to ownership.