New York-based luxury fashion brand Khaite has received an undisclosed investment from growth equity firm Stripes.

Khaite is majority owned by Assembled Brands, a brand incubator that provided the initial investment to Khaite when it launched in 2016.

According to Assembled Brands’ Chairman, Adam Pritzker, the new funding will “further accelerate Khaite’s expansion and ensure greater visibility for an already iconic brand that is redefining American luxury.”

Since its inception, Khaite products, such as its cashmere sweaters, structured denim, and western-inspired boots, have gained popularity among the downtown New York crowd and celebrities like Kendall Jenner and Katie Holmes. Today, the brand is available at leading luxury retailers such as Net-a-Porter, Bergdorf Goodman, and Saks Fifth Avenue.

The latest investment is just one of many milestones achieved by Khaite in recent months. In December 2022, Catherine Holstein, the brand’s creative director, was named womenswear designer of the year at the CFDA Awards. And just last month, the brand opened its first store in SoHo and launched an eyewear collaboration with Oliver Peoples.

Khaite is known for its minimalist, chic designs that cater to various sizes and shapes. According to Pritzker, the brand’s mission is to offer high-quality, versatile pieces that can be worn year after year.

With the latest investment from Stripes, Khaite will be able to expand its reach and continue to redefine the fashion industry.

Photo credit: Khaite