Gores Group Takes Stake in Big Strike, Schneider Joins Team
After years of searching for an investor, Big Strike Inc.—whose juniorswear labels include Heart Soul, Soulmate and Free to Love—has gotten a financial boost from The Gores Group, a Los Angeles private-equity firm. Terms of the deal for a majority share in the company were not revealed.
“The Gores Group is an ideal partner to help take Big Strike to the next level,” said Lars Viklund, co-founder and president of the apparel company, which has its headquarters in Gardena, Calif. “They have incredible strategic and operational capabilities with access to an abundance of capital that can be used to support our anticipated growth.”
The Gores Group, founded in 1987 by Alec Gores, has been looking for apparel investments. Last year, it invested in J. Mendel, a global luxury fashion brand in New York. This is the company’s first investment in a juniorswear maker. “Big Strike is a great company with terrific product lines and strong relationships with many of the best retailers in the industry. We look forward to partnering with Big Strike’s current management team and founders—Lars Viklund, Jodi Sundberg and Kevin Talbot—to realize the full potential of the business,” said Jeff Schwartz, managing director of The Gores Group.
As part of the deal, Paula Schneider, former president of Speedo and Laundry by Shelli Segal, is coming on board as Big Strike’s chief executive.
The Sage Group, a Los Angeles investment bank, was an adviser to Big Strike in the transaction.—Deborah Belgum
