The Italian company bought a 61 percent interest and Schottenstein and his celebrity partners, Jamie Foxx, Hailee Steinfeld and Ashley Benson, will retain 39 percent ownership.
Schottenstein created Privé Revaux two and a half years ago as a fashionable alternative to premium sunglasses. Most of the styles sell for around $29.95.
The brand has also been given a boost by creating capsules with well-known people including Benson, Steinfeld, “Riverdale” star Madelaine Petsch, and most recently, model Adriana Lima. In mid-2018, Privé Revaux received an undisclosed investment from private equity firm TSG Consumer Partners.
Schottenstein, a member of the Ohio family that made its name in the retail business with discounters such as Value City Department Stores, DSW and Filene’s Basement, has called himself a serial entrepreneur. He started his first business at age 12, selling cigars to businessmen. He founded the custom bespoke tailoring company Astor & Black, which he sold to private equity firm Castanea Partners, as well as Swiss Stays, a collar stay brand that he sold to a private investor. He also started a legal billing business that he sold as soon as possible. “I never realized how miserable
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