Report: Herschel Supply Looking for Buyer
WWD, citing multiple unnamed financial sources, is reporting that Herschel Supply is looking for a buyer with help from J.P. Morgan.
Herschel has been growing rapidly since launching nearly 10 years ago, and has begun opening its own stores. The brand is currently going hard after the travel category.
In an SES interview in July with co-founders Lyndon and Jamie Cormack, we asked if the brothers wanted to keep the company family-held or if they envisioned selling or taking on outside investors at some point.
“The future is going to have to play itself out,” said Lyndon, who spearheads sales strategy, business direction, and operations. “Of course, we’ve had conversations with a bunch of great firms over the last eight years or so and they have been constructive talks. If a deal was to be done at some point it would be about enhancing our capabilities more than we can do ourselves.
“We’ve been blessed with profitability, which has allowed us to make long-term decisions at every single intersection we have found ourselves in,” he said. “But there may be a time when that changes.”
We reached out to Herschel about the WWD story, and they pointed to their comments in the SES interview as consistent with how the brothers view the future.
We highly recommend our interview with Jamie and Lyndon where the brothers detail their business strategy, including plans for Herschel’s fast-growing travel and apparel businesses and Herschel stores, and lessons learned over the past 10 years.