Last year, Seattle-based retailer Totokaelo made waves when it opened new premises in a massive, five-story building in Soho, New York. Now, almost a year on, the luxe-fashion retailer's story takes on a new chapter, having been acquired by Herschel Capital Co. — the investment division of heritage accessories brand, Herschel Supply Co.
The news means that Need Supply Co. — another retailer in which Herschel Supply Co. owns a minority stake — will assume part control of Totokaelo's back-end production, with the Totokaelo operation still remaining autonomous and the businesses independent.
Speaking of the news, Totokaelo founder Jill Wenger wrote in a note to vendors:
“Herschel will provide the funding to ensure Totokaelo meets our financial commitments. Need Supply will provide the operational support and infrastructure to ensure Totokaelo’s growth feels productive and in control. I will continue to provide the vision, look and feel of all things Totokaelo.”