MarcyPen Capital Partners, a firm associated with rapper Jay-Z, has purchased the Gld Shop, a Miami-based jewelry brand.
Financial terms were not disclosed. Brand Velocity Group, a New York City-based investment fund, joined with MarcyPen in the purchase. Former owner H.I.G. Growth Partners will retain a stake in the company. In addition, Christian Johnston, who founded the company in 2015 and serves as its president and chief creative officer, has upped his ownership stake with a reinvestment in the brand.
Johnson told WWD that the brand, which up until now has been strictly direct-to-consumer, will start to open wholesale accounts.
“We have a couple retailers knocking on the door,” he told the publication. “There’s a whole other layer we can add to this business.”
Johnston will continue to lead the brand, along with CEO David Reinke.
MarcyPen was created in November 2024, in a merger between Marcy Venture Partners, co-founded by Jay-Z, and Pendulum Holdings’ investment arm. This is its first investment.
H.I.G. first invested in Gld in 2021. Since then, Gld’s revenues have increased 130% and it has “achieved significant levels of profitability,” according to H.I.G.
Photo courtesy of the Gld Shop