LOS ANGELES, Jan. 14, 2021 /PRNewswire/ — Today, Assembled Brands is thrilled to celebrate the closing of a new $4 million revolving line of credit with Hammitt, a premium line of handbags and accessories that’s a beloved favorite among retail partners and digital shoppers alike. Through this partnership, the LA-based company will further extend their marketing efforts and continue to expand their inventory assortment.
The team at Assembled Brands provides working capital, business insights and an unrivaled network to meet the unique needs of emerging businesses that face capital constraints.
Since launching their business in 2008, the team at Hammitt has been committed to creating an unparalleled customer experience through designs that prioritize both form and function. Imagined with busy lifestyles in mind, the collection’s craftsmanship is centered around long-term quality and day-to-day dependability.
“Hammitt’s ability to consistently gain traction in their DTC channel while maintaining a strong wholesale presence resonated with our investment committee. The omnichannel presence of the brand has propelled Hammitt’s growth,” said Michael Lipkin, President and COO of Assembled Brands.
“We’re honored to join the prestigious Assembled Brands family,” said Tony Drockton, Founder and Chairman of Hammitt. “The establishment of such a symbiotic partnership, especially during an unusual time, marks a huge milestone for our team. I’m excited to see where this support propels us next.”
Hammitt joins a portfolio at Assembled Brands that includes high-profile fashion and beauty industry brands such as Koral, Violet Grey, Wardrobe NYC along with other consumer brands like QALO, Buffy, William Murray Golf, and Kid Made Modern, among others.
Assembled Brands was founded on a desire to help growing brands finance their growth through revolving lines of credit supported by inventory, receivables and purchase orders.
Don’t give your equity away like you would with traditional venture debt. Discover how your business can benefit from Assembled Brand’s simple and streamlined process. Apply online today with a lender prepared to take your brand to the next level.
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SOURCE Assembled Brands