Former Bloomies chair forms investment firm

NEW YORK Former Bloomingdales chairman and ceo Marvin Traub has formed and investment company with business partners Mortimer Singer and Aslaug Magnusdottir.

According to Traub, his new company, TSM Capital, will invest in luxury brands and retailers within the apparel, accessories, cosmetics, jewelry and home sectors. The company will focus on investments that are in their early growth stages and have revenues ranging from $5 million to $50 million per year.  TSM recently completed its first transaction which involved an in investment in U.K.-based luxury fashion house, Matthew Williamson Holdings Ltd.

Marvin Traub commented on the new venture by saying: "Through my consulting work and relationships within the industry I regularly get to know brands with huge potential for growth but that have limited access to financing. Very few professional investors focus on investments in early stage luxury businesses. I believe that there is significant need for a financial investor in this sector that has extensive U.S. and international expertise and is able to actively support the brands in their growth. TSM Capital is made up of a group of individuals with extensive experience within the luxury sector and in investments. I believe our entity will be able to offer a very compelling choice for early stage brands as well as for investors that have an interest in putting money into the sector."

Marvin Traub has served as president of his marketing and consulting firm, Marvin Traub Associates since 1994. MTA is a unique consulting firm with expertise in global retailing, marketing and consumer goods. Prior to starting his own consulting firm, Traub was the president, chairman and ceo of Bloomingdales for over 20 years.