D.K. Smith & Co. Completes Acquisition of Luxury Fashion Brand PLANET

D.K. Smith & Co. Completes Acquisition of PLANET

On April 3, 2025, D.K. Smith & Co. officially finalized its acquisition of PLANET, a luxury fashion label founded by Lauren Grossman. The specifics of the deal remain undisclosed, sparking curiosity within the fashion and investment communities alike.

D.K. Smith & Co. represents the private equity arm of DKS Capital Partners, an alternative asset manager with operational hubs located in Coral Gables, Florida, and Jackson, Wyoming. This division primarily focuses on middle-market acquisitions, providing not only capital but also the strategic insights essential for founders seeking to elevate their business.

The leadership at DKS Capital Partners features a blend of experienced executives, including CEO Darien K. Smith and CFO Alex Rienzie. Smith brings with him a wealth of expertise from his tenure at Boston Consulting Group, complemented by his academic credentials from NYU School of Law and the University of Miami. Similarly, Rienzie boasts a substantial background from J.P. Morgan and esteemed institutions like Harvard Law School.

Just after the acquisition, both Smith and Rienzie accepted positions on the Board of Directors for PLANET, indicating a committed hands-on approach to nurturing the brand's growth. Located in Sunrise, Florida, PLANET has earned a reputation as a leading designer and manufacturer that prioritizes timeless, ageless, and seasonless fashion. With close to 400 wholesale partnerships across the nation, its products resonate strongly with consumers seeking high-quality, elegantly designed apparel.

Founded by Lauren Grossman in 2002, PLANET has thrived for over two decades, building a devoted customer base that appreciates its dedication to premium fashion. Grossman will continue her pivotal role as CEO and Chief Design Officer, ensuring that the brand retains its creative leadership while also leveraging D.K. Smith's resources for future growth.

The partnership illuminates a shared vision of expanding PLANET's reach in the digital realm and exploring new strategic opportunities that promise to amplify its market presence. "The legacy of PLANET, coupled with our shared vision and capabilities, presents an extraordinary opportunity to enhance PLANET’s market footprint and influence," stated Darien K. Smith, who now also serves as Chairman of PLANET.

Lauren Grossman expressed her enthusiasm about the future, stating, "I am excited about what this partnership with D.K. Smith & Co. signifies for our loyal customers and the evolution of our brand."

Furthermore, D.K. Smith & Co. sought guidance from Cadet Legal, which facilitated the transaction through its comprehensive asset management and corporate transactional services led by attorney Denzel R.B. Cadet.

As D.K. Smith & Co. embarks on this new chapter with PLANET, the fashion industry will be closely watching the strategic developments that emerge from this high-profile acquisition. With D.K. Smith’s resources and PLANET's established brand identity, the future looks promising for the innovative fashion label and its customers alike.