In a recent announcement, Saxx confirmed it has received strategic investment from TPZ Group.
Darren Wilcox of Wildfire Distribution, who will be bringing Saxx to Slide & OTS Winter in January enthused, “I’m really excited about this news, Saxx is a company on the move, and these new investors will take the brand onto its next level of growth. We have established a solid business with the best retailers in the UK, and have a growing number of loyal brand fans. The extra investment will help us tell even more people about our great product! We have known about this for a while and already working on some exciting marketing projects for 2022 in the UK to grow our brand awareness and drive sales for our retailers.”
Image from the SAXX collection in partnership with Plastic Bank; for every garment sold from the collection, 50 plastic bottles will be prevented from entering the ocean.
Vancouver, British Columbia – August 25, 2021 – SAXX Underwear Co. Ltd. (“SAXX”), the innovative Canadian men’s underwear brand, announced that it has received a strategic investment from TZP Group (“TZP”), a multi-strategy private equity firm, through TZP Capital Partners III, L.P. NLS Group Holdings Inc. (“NLS”), led by Krystal Growth Partners which invested in SAXX in April 2010, will retain a significant minority interest in SAXX. As part of the transaction, Brentwood Associates, a Los Angeles-based private equity firm that invested in SAXX in December of 2016, will exit their investment. Terms of the transaction were not disclosed.
Founded in 2006, SAXX has revolutionized men’s premium underwear with their patented BallPark Pouch™ technology – a hammock-shaped pouch built into each pair which their customers refer to as “life changing.” SAXX product designs have since expanded to include comfortable, premium, high-performance men’s apparel tailored to support an active lifestyle. Its products are made from the highest quality functional fabrics and construction methods to address the specific needs of their fanatical customer base, ranging from everyday lifestyle pieces to high performance athletic gear. SAXX’s self-described “obsession with the comfort of your manhood” has attracted a cult-like following that includes prominent celebrities and athletes.
With over 5,800 retailer partner doors across North America, UK, Europe, Japan, and Australia, SAXX is actively extending its brand reach globally. Since its inception, SAXX has experienced rapid sales growth of 26% compounded annually over the last five years, with e-commerce sales growing an impressive 60 percent year-over-year in 2020 alone. As part of the investment, TZP will help support the Company’s operations, growth strategy and expansion into new markets while building out its current presence across the United States and Europe. SAXX and TZP will work together to strategically deepen customer relationships and increase brand awareness, while also exploring new product categories and retail distribution opportunities.