Goode has purchased an ownership interest in Sneaker Villa, Inc. (“Villa” or the “Company”).
Led by CEO and shareholder Jason Lutz, son of founders Chris and Ruth Lutz, Villa has established itself as one of the premiere lifestyle footwear and apparel retailers in several key Northeastern and Midwestern markets. Since its first store opened in 1989, the Company has grown to over 50 units, more than doubling its store base since the beginning of 2012. Villa expects to continue its rapid growth over the next several years with additional store openings in both new and existing markets.
“We are excited to partner with Villa at such an exciting time in its growth as a brand. We look forward to leveraging our experience investing in and advising growth consumer retail companies to augment the extremely talented management team already in place at Villa,” commented David Oddi, a Partner at Goode. Added Lutz, “We are pleased to have the support of the Goode team and the relationship network they bring. Their track record of successfully investing in and working with high-growth retailers, as well as their fit with our team, were deciding factors in our choice to partner with Goode for the next chapter in our growth.”
Goode purchased a 50% ownership interest in Dave’s Killer Bread, a baker of organic, whole grain, vegan and GMO-free bread products sold throughout the Western United States at leading grocery stores and local markets.
DKB has grown rapidly in seven years, evolving from four varieties sold at a weekly booth at the Portland Farmer’s Market by Dave and Shobi Dahl, to 16 varieties sold in every major grocery chain in 11 states. Known for its trademark explosion of seeds and delicious chewiness, the Company is equally well known for the struggles faced by Dahl, who battled depression and emerged from a life of crime to become a celebrated bread artisan.
“We think this brand is something special, so we jumped at the opportunity to partner with the Dahls,” said Dan Bonoff, a Partner at Goode Partners. “We can’t wait to work with the company to build on what has been accomplished and continue to introduce the bread and Dave’s inspiring story to new customers.” Dave Dahl, Founder and President added, “Our relationship with Goode Partners is going to give us additional resources and a top-shelf board member who knows exactly how to build a build a brand and grow nationally. Together, we’re going to work to get our bread in the hands of new fans in new cities.”
Goode Partners has successfully exited their investment in Intermix with a 100% sale to Gap, Inc.
Founded 19 years ago by brothers Khajak and Haro Keledjian, Intermix has become one of the most desirable multi-brand high end fashion retailers in the world. Operating 32 stores in 13 states and Canada, Intermix provides a unique shopping experience through world-class merchandising and by curating assortments from over 250 leading brands across numerous classifications.
Keith Miller, Partner at Goode said, "It has been a true and sincere pleasure working with, being part of, and watching the team of Khajak, Haro and Adrienne. They have done a remarkable job at staying way ahead of the multi brand fashion retail curve and have built a real defensible model through a differentiated experience and nimble merchandising strategy that resonates with their customer. We are excited, and looking forward, to watching their success with the Gap as their new partners.”
Khajak Keledjian, CEO and Co-Founder of Intermix commented, "It has been a fun and educational time working together with the team at Goode. They truly brought value-added insight and resources to our team and culture. We are going to miss them dearly and feel we are very well positioned, with our platform and management team, for significant growth.