News

Silas Capital has made an investment in Bellroy, an accessories brand. No financial terms were disclosed.

PRESS RELEASE

MELBOURNE, Australia, April 10, 2019 /PRNewswire/ — Bellroy, a purpose-driven, digitally native accessories brand that offers distinctively designed wallets, bags and other considered “carry” products, has announced a partnership with Silas Capital, a New York-based emerging growth equity firm that invests behind exceptional next generation consumer brands.

Originally known for its iconic assortment of wallets, Bellroy’s product line has over time expanded into larger and more visible categories such as backpacks, digital carry and work accessories. Beloved by customers for its clean and minimalist aesthetic, Bellroy is also one of a handful of brands effectively applying a responsible methodology to the way it sources, designs, manufactures and sells its products. Bellroy’s focus on sustainability has earned it a Certified B Corp designation.

Bellroy distributes its products across more than 100 countries with the majority of revenue generated online through its own website, along with other leading digital marketplaces such as Amazon and Tmall. Beyond its formative online presence, Bellroy also sells globally through distribution partners and other direct wholesale relationships, including Nordstrom, Barneys New York, John Lewis (UK), David Jones (Australia), Patagonia and Huckberry.

Andy Fallshaw, Bellroy’s CEO and Co-Founder, expressed his excitement about the new partnership. “We put thought and care into the design of everything in Bellroy. From our customer centric philosophies, to our lean supply chain, our category defining products, and even the way we sign off an invoice. Customers often can’t pin-point a single thing they love about Bellroy, but they can almost always feel our love. Having boot-strapped the business to date, this capital infusion and new partnership will allow us to deliver our products to even more customers around the world.”

Bellroy’s COO, Lina Calabria, added, “We’ve always focused on how we can use our business to make the world a better place – via responsible business practices and sustainable manufacturing principles. We’re excited to partner with Carter, Frank and Brian to further that mission, while leveraging their e-commerce and wholesale experience to continue to drive revenue growth, especially within our core U.S. market.”

Silas focuses on category leading brands within the emerging growth segment of the consumer landscape, an underserved market that has been inadequately addressed by existing pools of venture capital and private equity. The firm not only invests capital to help these companies grow, but also brings significant resources and capabilities to actively assist in company growth through their expertise in e-commerce and digital expansion, alongside their knowledge of traditional wholesale and retail channels.

Carter Weiss, Partner of Silas, stated, “Having had experience in the category as a Co-Founder of BUILT NY, I’ve seen nearly every carry brand that has come to market over the past few years. Bellroy is the only one that I felt had the unique combination of design, function and permission to extend across product categories. We’re particularly excited to be partnering with such an inspiring and dynamic management team leading this Company in its rapid expansion.”

ABOUT BELLROY:
Bellroy is a purpose-driven, digitally native accessories brand that offers distinctively designed wallets, bags and other considered carry product. Well-known for their clean and minimalist aesthetic, they originally offered wallets and small carry items,and have over time expanded their product assortment into adjacent categories such as backpacks, digital carry and work accessories. Bellroy is also one of a handful of brands effectively applying a thoughtful and responsible methodology to the way it sources, designs, manufactures and sells its products. The Company’s focus on sustainability and commitment to several worthwhile causes have earned it a Certified B Corp designation. Learn more at www.bellroy.com or on Instagram @bellroy

ABOUT SILAS CAPITAL:
Since 2011, Silas Capital has been an active emerging growth equity investor that partners with consumer brands, in order to help these companies achieve significant revenue growth and profitability, improve operational efficiency, and increase brand recognition and value. The complementary backgrounds of the firm’s partners comprise executive leadership roles across growth equity and venture capital firms, as well as operating companies, which allows the group to deliver on a unique value-add proposition to the management teams, founders and companies with whom we partner. We not only invest capital to help these companies grow, but also bring significant resources and capabilities to actively assist in the growth of revenue through our expertise in e-commerce and digital expansion, alongside our knowledge of traditional wholesale and retail channels. Previous and current investments for Silas include Bare Snacks, Boll & Branch, Casper, Chief, Dos Toros, Dr. Roebuck’s, ILIA Beauty, Naadam, Lord Jones and Summersalt to name a few. Learn more at www.silascapital.com

For more information, contact [email protected].