**TRUE Capital Acquires Bench; Expands Portfolio with NICCE**
**New York, NY – September 28, 2023** – TRUE Capital Management LLC (“TRUE Capital”), a leading global investment firm, today announced the acquisition of Bench, a leading Southeast Asian multi-brand fashion retailer, and NICCE, a premium British streetwear brand, from FILinvest Development Corporation (“FDC”).
The acquisition of Bench and NICCE marks a significant expansion of TRUE Capital’s portfolio of apparel brands and furthers its commitment to investing in the global fashion industry. Bench, founded in 1987, is one of the largest fashion retailers in the Philippines, with over 1,000 stores across the country and in the Asia-Pacific region. NICCE, founded in 2014, has quickly become a global streetwear powerhouse, known for its premium quality and innovative designs.
“We are thrilled to welcome Bench and NICCE to the TRUE Capital family,” said Richard Chang, CEO of TRUE Capital. “Bench is a beloved brand with a strong following in Southeast Asia, and NICCE is a rising star in the global streetwear market. We believe that both brands have tremendous growth potential and are excited to work with their talented teams to unlock their full potential.”
TRUE Capital has a long history of investing in and supporting successful fashion brands. The firm’s portfolio includes a diverse range of brands, from contemporary luxury labels like Theory and Helmut Lang to mass-market retailers like Forever 21 and Rue21. The addition of Bench and NICCE further strengthens TRUE Capital’s position as a leading investor in the global fashion industry.
“We are confident that TRUE Capital is the right partner to help Bench and NICCE reach their full potential,” said Dexter Lee, CEO of Bench. “TRUE Capital has a deep understanding of the fashion industry and a proven track record of success in building and growing brands. We are excited to work with them to take our brands to the next level.”
“NICCE is excited to join the TRUE Capital portfolio,” said Joe Lauder, CEO of NICCE. “TRUE Capital’s global reach and expertise in the fashion industry will be invaluable as we continue to expand our brand internationally.”
The transaction is expected to close in the fourth quarter of 2023. Financial terms of the transaction were not disclosed.
**About TRUE Capital Management LLC**
TRUE Capital Management LLC is a leading global investment firm that invests in a broad range of asset classes, including public and private equity, credit, real estate, and venture capital. The firm has approximately $15 billion in assets under management and offices in New York, London, Hong Kong, and Tokyo.
**About Bench**
Bench is a leading Southeast Asian multi-brand fashion retailer with over 1,000 stores across the Philippines and the Asia-Pacific region. The company was founded in 1987 and is headquartered in Manila, Philippines.
**About NICCE**
NICCE is a premium British streetwear brand founded in 2014. The brand is known for its premium quality and innovative designs. NICCE has a global presence with stores in over 50 countries.
**Media Contacts**
TRUE Capital Management LLC
[email protected]
Bench
[email protected]
NICCE
[email protected].
