JH Partners Leads Successful Series B Financing For Greats Sneaker Bra

JH Partners is a well-established San Francisco private equity firm that has completed acquisitions and divestitures over the decades of brands such as Draper James, Gap, Inc., and Alex and Ani. In May 2017, JH Partners successfully led a $10 million Series B financing round for the online sneaker brand Greats.

Having achieved a $1.5 million seed round in 2014, the Brooklyn-headquartered company secured $4 million in Series A funding the following year. Founder Ryan Babenzien described JH Partners as an outstanding long-term partner that specializes in the company’s space and can add value to its operations. 

Having opened and closed a retail store in Brooklyn's Williamsburg, Greats launched pop-ups in nationwide markets throughout 2017. The emphasis was on providing shoppers with a luxury environment while placing a premium on convenience. Consumers could either purchase directly at the pop-up retail locations or order online and have the shoes shipped to them within hours. 

With former NFL star Adrian Wilson as one of its major investors, Greats has actively engaged in high-profile partnerships with Nordstrom and Mr. Porter went on to launch a women’s line that now makes up nearly a third of sales.

JH Partners Enables Draper James Series B Financing

Based in the San Francisco Bay Area, JH Partners has extensive operating experience in diverse consumer markets. One of JH Partners’ successful investments is in Draper James, a line of clothing, accessories, and home decor that “emphasizes Southern roots and personal style.” JH Partners invested in the founding of Draper James and participated in a successful second round of financing that totaled $10 million.

With Academy Award-winning actress Reese Witherspoon as cofounder, Draper James is known for quality lifestyle products. The brand has steadily expanded sales across the United States and throughout 15 other countries.

The $10-million second round of financing (also called Series B financing), raised only a few months after the company launch, was essential in enabling Draper James to expand its retail and wholesale product offerings and broaden its global reach. In addition to JH Partners, the Series B financing included investments from Forerunner Ventures and Stone Canyon Industries.