Private equity company Sycamore Partners has completed the acquisition of women’s apparel retailer Chico’s FAS in a deal worth approximately $1 billion.

Founded in 1983 in Florida, Chico’s FAS is a company founded by women and led by women, with brands including Chico’s, White House Black Market, and Soma. The firm provides clothing, shoes and accessories, intimate apparel, and expert styling in brick-and-mortar boutiques, digital online boutiques, and its digital styling tool StyleConnect.

As of October 28, 2023, the Company operated 1256 stores in the US and sold merchandise through 58 international franchise locations in Mexico.

Chico’s FAS shares of common stock are no longer listed on the New York Stock Exchange after the acquisition.

“Joining the Sycamore portfolio of leading retail brands marks an important milestone for Chico’s FAS and continues our journey as a customer-led, product-obsessed, digital-first, and operationally excellent company,” said Chico’s FAS CEO and president Molly Langenstein.

Based in New York, Sycamore Partners specializes in retail, consumer, and distribution-related investments with approximately $10 billion in aggregate committed capital raised since its inception in 2011.