San Francisco, CA, September 25, 2018 --(PR.com
)-- Marine Layer, an omnichannel casual lifestyle brand headquartered in San Francisco, has received a significant minority investment from Provenance, a growth equity investment firm based in Los Angeles. Originally founded in 2010, Marine Layer currently has 37 stores across the country, with plans for continued significant expansion.
"Mike Natenshon and the Marine Layer team have created an outstanding lifestyle brand that has transcended its foundation built on the ‘absurdly soft’ tee shirt," said Anthony Choe, founder of Provenance. "We're proud to partner with the company to replicate their success in other markets throughout the country, as well as help them grow their direct-to-consumer business." Provenance also joins the Marine Layer Board of Directors.
"We’re excited to partner with Provenance. They have a strong track record of performance, and they really understand our business and brand, which is huge for us," said Marine Layer CEO and founder Mike Natenshon. “I look forward to working closely with Provenance to take Marine Layer to the next level."
"Provenance is a value-added investor, and their approach to helping create value through customer analytics is unparalleled in the investment community,” said Adam Lynch, COO. "We look forward to our continued beneficial partnership for years to come."
Provenance was represented by Perkins Coie LLP in conjunction with the transaction. The Company was advised by Financo LLC with legal advice from Latham & Watkins LLP.
Mike Natenshon originally founded Marine Layer in 2010 after his girlfriend threw away his favorite shirt. Headquartered in San Francisco, the company now has 37 stores across the country and a rapidly growing online platform. The Company offers a wide variety of quintessentially casual California lifestyle apparel, outerwear and accessories for both men and women. To learn more about Marine Layer, please visit https://www.marinelayer.com/
Based in Los Angeles, Provenance is a growth stage investor focusing on digitally-intensive omnichannel brands. Utilizing a unique data-driven approach, Provenance was founded to assist an entire generation of brands navigating increasingly complex omnichannel growth strategies. Provenance seeks to partner with outstanding brands to help shape aggressive but prudent long-term growth strategies to maximize brand and enterprise value while minimizing risk to the organization. To learn more about Provenance, please visit http://www.provenance.digital/