Olsen twins buy minority stake in BeachMint

Tuesday, 08 October 2013
Fashion designers Ashley and Mary-Kate Olsen have acquired a minority stake in e-commerce company BeachMint, expanding their long-term partnership with company.

The California-based BeachMint operates six e-commerce ventures, which partners celebrities, experts and designers to create and curate direct to consumer online brands. There is StyleMint, which the Olsen twins design for and helped launch, JewelMint, ShoeMint, IntiMint, BeautyMint and HomeMint.

Along with their investment, Ashley and Mary-Kate Olsen will serve as co-chairs of the BeachMint advisory board, a role which will see the sisters consulting on the brand’s fashion division.

"In our expanded roles as co-chairs of the Advisory Board, Ashley and I will work closely with BeachMint's management team in this strategic phase of growth to establish the Mint brands as the leading online destination for all things fashion," explained Mary-Kate Olsen.

BeachMint founder and CEO Josh Berman added: "As successful business women, innovators and CFDA award winning designers Mary-Kate and Ashley are a natural choice to advise on key business, merchandise and design areas as we further scale our women's fashion divisions. We are thrilled to continue our relationship with them in this evolved role."

The 27-year-old actresses-turned-designers have an impressive fashion portfolio, owning three brands, The Row, Elizabeth and James, and Olsenboye. The pair also beat Marc Jacobs and Proenza Schouler to the CFDA's Womenswear Designer of the Year award in 2012.

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