Charles Cohen Acquires T. Anthony
The billionaire real estate developer also owns Harrys of London and Richard James.
Charles Cohen continues to add to his fashion stable.
The billionaire real estate developer has acquired T. Anthony, the luxury leather goods and luggage brand, and will add it to Harrys of London and Richard James as part of his Curated Lifestyle Collection company.
Terms were not disclosed.
The Curated Lifestyle Collection is an umbrella company that covers all of Cohen's interests including high- end film exhibition, hotel ownership and management, wine production and fashion.
T. Anthony was founded in 1946 when Theodore Anthony designed a luggage collection for his clients that was intended to service their globetrotting lifestyles in a luxurious yet practical manner.
The stylish and durable luggage soon became the choice of members of the British Royal Family as well as the elite of Hollywood, American presidents and other high-profile people from around the world.
Today, the brand operates a store at Park Avenue and 56th Street and is also carried at high- end retailers including Barneys New York.
The brand had remained in the family for more than 70 years and Michael
Root, Theodore's grandson, is the current chief executive officer. Cohen said Root will remain with the brand despite the ownership change. “He's does a good job and I have a contract with him,” he said.
Today, the New York-based company also offers soft leather accessories for men, women's handbags and gaming boards as well.
“I am proud to add T. Anthony to join Harry's Shoes, which opened its first North American outlet on Park Avenue at 57th street yesterday, and Richard James, the esteemed Savile Row tailor, which will open in Manhattan the summer, on the fashion side of our Curated Lifestyle Collection. My wife and CLC executive, Clo, and I have long been customers of the brand and know the quality with which each piece is crafted. We intend to bring the T. Anthony luxury label to a global customer, while fully respecting the DNA of this respected American brand,” Cohen said.
Root said he's happy to become part of CLC. “It has a legacy of serving an elite clientele, from John Lennon and Marilyn Monroe to Jackie O and Ronald and Nancy Reagan. Our luxury luggage embraces a high standard of excellence that has withstood the test of time; we employ a meticulous natural tanning process and handcraft every detail of our products, incorporating only the finest leather and other quality materials. Charles' investment will allow a strategic expansion of our footprint around the world.”
Cohen said once the acquisition is absorbed into CLC, he plans on renovating the Park Avenue store. And beyond that, he said he intends to replicate what he has done with both Harrys and Richard James, which is to “reposition and globalize it.”
He said opening a store in the U.K. is a natural and he also plans on capitalizing on T. Anthony's leather-making expertise for his other brands.
Cohen was represented in this acquisition by William Susman, managing director at Threadstone LP. T. Anthony was represented by Mark Jackson from Michel Dyens & Co.
Charles S. Cohen