Consortium Model Companions is including one other well-known title to its roster: Jonathan Adler.
The New York-based funding agency has acquired the bulk curiosity within the dwelling decor, furnishings, and life-style firm alongside American Change Group, which is a “strategic minority investor,” in line with Jonathan Greller, president and cofounder of Consortium.
GF Capital had invested within the privately held Jonathan Adler firm in 2008 and retained a monetary stake till the sale to Consortium.
The Jonathan Adler acquisition, which closed on Dec. 23 however is simply now being made public, marks the third buy by Consortium in 18 months. The funding agency acquired a majority stake in Draper James in September of 2023, adopted by the belongings of Out of doors Voices in June of 2024. The Draper James acquisition was finished with out companions whereas David Peyser Sportswear was a beforehand undisclosed investor in Out of doors Voices, Greller mentioned.
Though the Jonathan Adler enterprise had not publicly been shopped round, Greller mentioned Consortium had been “following the model for fairly a while” and managed to finish the deal earlier than the top of the 12 months.
Beneath the phrases of the acquisition, Jonathan Adler, the founding father of the corporate, will proceed as chief artistic officer.
“Jonathan Adler’s distinctive expertise and imaginative and prescient have made the model a beloved chief in dwelling design for many years,” Greller mentioned. “This acquisition not solely expands our choices within the dwelling decor area but in addition enhances our skill to create compelling and timeless model experiences that resonate with customers throughout a number of life-style classes in a enjoyable and exquisite approach.”
Though the Jonathan Adler model is already well-known with over 1,000 factors of distribution worldwide, Consortium believes there are nonetheless quite a lot of progress alternatives forward. “We need to make it a family title worldwide,” Greller mentioned.
Key to that objective is American Change Group, a New York-based firm created by Alen Mamrout in 2008 that bought Aerosoles footwear in 2022, White Mountain and HatchCollective in 2023 and Island Surf Co. in 2024. The corporate, which focuses on equipment, footwear, purses and small leather-based items, operates a portfolio of greater than 30 owned or licensed manufacturers together with Born, Ecko Unltd., Ed Hardy, Mossimo, Mudd, Rampage and XOXO.
A Jonathan Adler retailer.
Courtesy of Consortium Model Companions
Mamrout, president and chief government officer of American Change Group, added, “Partnering with CBP on this acquisition permits us to mix our experience in manufacturing and distribution with their power in strategic investments and brand-building. Collectively, we’re dedicated to elevating the Jonathan Adler model to even larger heights, increasing its world attain and product choices.”
Greller mentioned American Change will function the ten Jonathan Adler retail shops and e-commerce platform and in addition be instrumental in “sure product extensions. It’s an incredible firm with nice administration.”
Adler agrees: “We weren’t trying to promote, nevertheless it labored out completely. American Change Group is a very spectacular firm, as is Consortium. It was an incredible assembly of minds.”
The founder mentioned he’s wanting to work with the brand new house owners and to proceed to create distinctive and eclectic merchandise. “I’m a lifer,” Adler mentioned. “My mission in life has at all times been to search out the way in which to be essentially the most artistic and I’m thrilled to work with these guys. This new chapter allows me to stay my American dream.”
Greller mentioned that along with Adler, the remainder of the corporate’s staff is predicted to stay intact, together with chief government officer Justin Sonfield who has been operating the model since March of 2019. “There will probably be no change besides for almost all proprietor,” he mentioned, including that Sonfield and his staff will “proceed to drive the enterprise going ahead.”
“It’s enterprise as standard,” Adler mentioned.
Jonathan Adler designs merchandise in a wide selection of classes.
Courtesy of Consortium Model Companions
The story of the Jonathan Adler model is a real American success story. After graduating from Brown College with a level in artwork historical past and semiotics — the examine of indicators — Adler struggled to search out his approach, dropping jobs in a expertise company and for a film producer. “I had a nasty angle and work ethic,” he has mentioned previously.
When he was in his mid-20s, he determined to throw himself full-time into his ardour — making pottery. “I give up my day job 30 years in the past to be a potter so I might make no matter I needed,” Adler mentioned. Though he thought he would create items he would promote at craft festivals, his life took one other flip when Barneys New York positioned an order for his pottery, setting the wheels in movement to the constructing of a $150 million-plus enterprise. 5 years after that order, Adler opened his first retailer in Soho, promoting textiles, table-top and furnishings.
It additionally modified his private life by introducing him to Simon Doonan, Barneys’ then-creative director, who’s now his husband. “Jonathan and I simply celebrated our thirtieth anniversary,” Doonan mentioned. “Throughout our three many years I’ve watched with delight as Jonathan went from clay-spattered potter to the go-to dwelling model for the style flock. Together with his good new enterprise companions I’m certain his subsequent period will probably be filled with much more envelope-pushing, mind-blowing fabulosity.”
Seeking to the longer term, Greller mentioned the plan for the Jonathan Adler model is so as to add shops outdoors the U.S. — at present, the corporate operates one brick-and-mortar retailer in London and 9 within the U.S. — and “proceed to spend money on e-commerce.” The enterprise at present has a powerful presence within the U.Okay. and is focusing on the APAC area and Mexico within the quick time period, he mentioned.
The brand new house owners additionally hope to supply new or expanded product classes together with mushy dwelling, tabletop, dwelling group, bedding and extra.
At present, 40 % of the corporate’s enterprise is in furnishings with lighting and ornamental equipment additionally among the many hottest objects.
“There’s a lot that Jonathan nonetheless desires to do,” Greller mentioned.
Jonathan Greller
Consortium Model Companions
Adler laughed and admitted there are quite a lot of issues nonetheless on his to-do checklist. “I have to get my priorities so as,” he mentioned, including, “The aesthetic of my firm and my vibe will be utilized to so many product classes. I’m a megalomaniac. I need to be in each sq. inch of your property and if you flip over your pillowcase, couch or plate, I would like you to see the Jonathan Adler label.”
No matter class, he mentioned he desires “every bit to look stylish and eclectic.”
Adler mentioned he’s additionally persevering with to work with high-end hospitality shoppers such because the American Dream mall which employed him to design skybox suites and sitting salons in its luxurious wing when it opened, and was the pinnacle choose the HGTV present “Design Star: Subsequent Gen. “By no means say no to TV,” he mentioned.
“My mantra is extra, extra, extra, and this may allow me to do extra, extra, extra with such nice, new companions,” Adler mentioned.
Greller burdened that in contrast to the opposite aggressive model administration companies corresponding to Genuine Manufacturers Group, WHP World and Marquee, Consortium Companions considers itself “model builders and model accelerators.” And the Jonathan Adler acquisition “enhances our deal with constructing lifestyle-driven manufacturers with a big following amongst customers and on social media.”
Consortium was created by Greller together with Cory Baker and Michael DiVirgilio who had labored collectively at Marquee till 2021. They sought to create a enterprise with a special construction than a licensing mannequin the place strategic and institutional buyers are welcomed. As a substitute, Consortium employs a staff of operators and retailers to construct companies not primarily based solely on licensing income.
As Baker has described it: “We’re not reinventing the wheel. It’s fascinated about methods we will do it with a broader aperture, and a extra strategic actual story.”