Francesca’s Acquisition LLC, which operates stores under the Francesca’s and Franki by Francesca’s banners, has acquired Richer Poorer, the LA-based women’s and men’s wholesale and direct-to-consumer brand of wardrobe essentials.
Founded in 2010, Richer Poorer has a stated purpose of “making the world a more comfortable place by delivering thoughtful, elevated wardrobe essentials for modern life, made with the highest-quality, sustainable materials at attainable price points”. The brand’s focused categories include sweats, tees and tanks, intimates, dresses, and loungewear.
The acquisition bolsters Francesca’s channel reach, including leveraging Richer Poorer’s robust wholesale network and introduces new product categories to Francesca’s portfolio mix, allowing it to grow its share of wallet among the Gen Z and millennial women’s segments.
The acquisition comes after Francesca’s declared bankruptcy in 2020 and was taken private in 2021 by private equity firm TerraMar Capital. The brand has regained momentum under its new owners, with a focus on growing its e-commerce channel and customer experience, scaling its tween brand Franki by Francesca’s and expanding its physical footprint. At the beginning of 2023, it launched a re-sale partnership with ThredUp.
