Who commuted from Connecticut at first, and then moved to Raleigh with his family Then, in 2009, when the economy was taking a beating, Sea Island sold its majority stake to a Chicago private equity firm, Winona Capital. The move was key, Mahoney says. It

Who commuted from Connecticut at first, and then moved to Raleigh with his family
Then, in 2009, when the economy was taking a beating, Sea Island sold its majority stake to a Chicago private equity firm, Winona Capital. The move was key, Mahoney says. It forced Peter Millar to “leave no stone unturned” in reducing inventory, honing strategy, and planning forward. “Sea Island gave us credibility, and private equity gave us great financial discipline.”
The thinking now is that Richemont will open Peter Millar to a wider world, taking the Raleigh company’s international business from 5 percent of sales to 30 to 40 percent over the next three to four years.
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