Pentland takes a stake in “long-lost” US sneaker brand
15/03/2017
Pentland said on making the announcement that the investment will help SeaVees grow its business within the US and internationally.
Established in 1964, SeaVees claims to have pioneered the transformation of the sneaker from gym shoe to casual shoe. Years later, current chief executive, Steven Tiller, rediscovered the brand after a chance encounter in a Tokyo thrift store, leading to what he has described as the rebirth, in 2010, of “a forgotten American original”.
For its part, Pentland has said it is investing in Steven Tiller’s footwear market knowledge and creative direction, aiming to combine these qualities with Pentland’s “expertise and passion for growing international footwear brands” to bring “this long-lost, but rediscovered, authentic sneaker brand to new consumers across the world”.
Global strategy director for Pentland, Chirag Patel, said at the time of the announcement: “Our portfolio development programme looks for high-potential, high-growth brands, so SeaVees is a great addition to our portfolio. We have a strong track record of investing in brands in the long-term, so our plan is to give Steven and his team space to build the SeaVees brand, while giving them access to the size and scale of our network.”
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