Founded in 1965 by Mr. Oscar de la Renta, Oscar de la Renta, LLC (“ODLR” or the “Company”) is engaged in the design, wholesale, and direct-to-consumer (“DTC”) sale of luxury apparel for women. In addition to ultra-premium ready-to-wear dresses, bridal, accessories and children’s apparel, the Company also licenses its trademarks for menswear, eyewear, fragrance, and stationary.
After navigating a challenging Covid-19 retail environment during 2020-21 and facing a nearing maturity of their existing bank debt, the Company sought new partners both for their working capital revolving line of credit as well as a brand term loan. The new facilities provided incremental liquidity and enhanced flexibility affording ODLR the opportunity to focus on multiple initiatives to enhance the business.
SLR Credit Solutions provided a $20,500,000 senior term loan secured by all non-working capital assets and leveraging the value of the Company’s intellectual property and brand value.