Holstein started the business in 2016 with an initial investment from Adam Pritzker of Assembled Brands.
Stripes specializes in high-growth software and consumer businesses, with investments in the sustainability-minded Reformation, workwear brand Brunt, running shoe company On Holding, intimates brand Parade and more. brain trust includes operating partner Brigitte Kleine, who has served as president at Tory Bruch, Michael Kors and Alexander McQueen, among other high-profile industry roles.
Given that Day One was only eight years ago — and a good deal of that stretch was marred by the pandemic — Khaite managed to go from strength to strength even as so many younger designer businesses struggled to find backers and the big money shied away from the sector. “We all know the best part of the luxury business lies in accessories and beauty and various other high-margin products, but you have to build a brand, you have to build a luxury brand,” he said, describing Khaite as a “true American luxury brand.” Pritzker said Domenico De Sole, who formerly led Gucci and helped build the Tom Ford business, was “involved in helping build and assemble Khaite.”, when a number of other brands were out testing the market and looking for money.