TSM Capital, founded by Marvin Traub, Aslaug Magnusdottir and Mortimer Singer, has acquired an undisclosed "significant" minority stake in Roy's label. The plan is to further grow the Rachel Roy brand at wholesale globally, expand with new categories and open freestanding retail units in key U.S. locations.
"The fact that I have found people I really enjoy working with is so important when you're going to be making creative as well as long-term decisions," Roy said Monday.
"It's expanding the brand and building it into something I wouldn't be able to do on my own because funds wouldn't have come as quickly," she added.
Roy made a name for herself not just as the wife of hip-hop and urban clothing impresario Damon Dash, but also with her feminine, romantic clothes designed for women like herself. She and her husband are actively involved in New York's social circuit, and Roy is often photographed wearing her own designs.
A California native, Roy joined Rocawear fresh out of college. She rose to become creative director of Rocawear women's and children's lines, and met her future husband there. While at Rocawear, she launched her own label in 2004 and quickly caught the attention of stores like Bergdorf Goodman and Big Drop with beaded tops and shrunken blazers and miniskirts.
When she and Dash left Rocawear in 2005, they retained ownership of Roy's business. The collection was initially launched as a contemporary line, but Roy changed tiers last year and turned it into a young designer line, which included stepping up price points by about 40 percent.
The company has its own sample room in New York, and most of the garments are made in the U.S.
Roy's label is now carried in over 100 doors, including Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus and Nordstrom as well as specialty boutiques like Intermix here, Mitchells in Westport, Conn., Marissa Collections in Naples, Fla., and Aura in Santa Monica, Calif. She also has small distribution overseas in stores such as Villa Moda in Kuwait and Tsum in Moscow.