Private Equity Firm Green Harbor Investment Acquires Majority Stake in Jason Wu
Posted on 05/06/2019
Chinese private equity player Green Harbor Investment, which is led by executives such as Zidi Liu, acquired a majority ownership stake in JWU. JWU is the parent company of New York-based designer company Jason Wu. Green Harbor bought the stake in JWU from InterLuxe, which owned the label since 2014. InterLuxe, which backs both newly-created fashion brands and emerging labels, was formed by New York-based private equity firm Lee Equity Partners.
Designer Jason Wu sees China as a key market for luxury brands. He launched his ready-to-wear collection back in 2007. Jason Wu has made clothing for celebrities such as Meghan Markle, Michelle Yeoh, and Michelle Obama. According to Vanity Fair, Jason Wu is one of Michelle Obama’s favorite designers, donning a Jason Wu red/black mélange tweed jacquard dress at U.S. President Donald Trump’s inauguration. The former First Lady also wore a navy blue Jason Wu dress during former President Obama’s farewell speech.
Green Harbor was formed in 2015 and has offices in Beijing and Hong Kong.