Industry Veterans Jonathan Duskin and Daniel Balzora Launch Macellum Private Capital

The Newly Formed Firm Will Focus on Investing in Black- And Minority-Owned/-Led Businesses in the Consumer and Retail Ecosystem

Macellum Private Capital ("MPC"), a private investment firm focused on investing in Black- and minority-owned or -led businesses in the consumer and retail ecosystem, today announced its formation.

Historically, minority-owned and led businesses have encountered disadvantages to scaling due to a lack of access to significant capital, strategic and operational resources, and deep networks. Large corporations and consumers are increasingly demanding products and services from these businesses, creating over a $1 trillion opportunity.

Along with our team of investors and operators, management teams will have access to MPC's strategic relationships, including G-III Apparel Group GIII, a nearly $3B revenue company that designs, sources, and markets apparel and accessories across over 30 licensed and proprietary brands; Citi Trends CTRN, a $1B revenue diversified retailer with over 600 locations focused on Black and Hispanic consumers; and Bob Johnson, Founder of BET and The RLJ Companies.

"These strategic relationships provide a unique and compelling value proposition to founders and management teams to bring a differentiated, value-added strategy to support and grow the companies in which we invest," said Managing Partner Daniel Balzora, an investor with over 20 years of private investing, M&A, and operating experience while at TZP Group, Pouschine Cook Capital, Jefferies & Co., and General Mills. "Active engagement and being a trusted partner and resource to management teams is core to Macellum Private Capital's investment philosophy and approach."

Morris Goldfarb, Chairman and CEO of G-III and a member of MPC's Advisory Board, commented, "Management teams will benefit from access to G-III's multi-channel distribution network and global supply chain capabilities providing these companies with a competitive advantage as they efficiently scale their operations."

Macellum Private Capital is a subsidiary of Macellum Capital Management, a consumer-focused hedge fund founded by Jonathan Duskin, an industry veteran with over 25 years of experience investing in the consumer and retail sectors.

Mr. Duskin, CEO of Macellum Capital Management and Chairman of MPC's investment committee, said, "Macellum Capital Management has always prided itself on taking a private equity approach to the public markets, so we are excited to launch this platform and bring our domain expertise, deep network of relationships, and investment acumen to the private markets."

The firm targets venture and growth capital investments in high-growth Black- and minority-owned or -led businesses in consumer sectors such retail/multi-unit, e-commerce, health and beauty, apparel, food & beverage, home goods, and experiential/lifestyle. MPC will also consider investing in business services companies that are vendors to large consumer and retail organizations, as the F-500 aims to diversify its supply chain and increase spend with minority-owned companies.

David Makuen, CEO of Citi Trends and a member of MPC's Advisory Board commented, "We are pleased to work with Macellum Private Capital and leverage our consumer insights, product development capabilities, and over 600 stores located in Black and Hispanic neighborhoods as it pursues a significant, untapped opportunity to invest in high-quality companies to help close the economic gap and create wealth sustainability in Black and minority communities."

The firm's investment team and advisory board comprises a diverse group of experienced investors and operators:

• Daniel Balzora — Managing Partner, Macellum Private Capital
• Jonathan Duskin — Founder and CEO, Macellum Capital Management; Chairman of Investment Committee, Macellum Private Capital
• Morris Goldfarb — Chairman and CEO, G-III Apparel Group; Advisory Board Member, Macellum Private Capital
• Jeanette Nostra-Katz — Board Director and Former President, G-III Apparel Group; Director of Marketing & Operations and Advisory Board Member, Macellum Private Capital
• David Makuen — CEO, Citi Trends; Former EVP of Marketing & Strategy, Five Below; Advisory Board Member, Macellum Private Capital
• Peter Sachse — Executive Chairman, Citi Trends; Co-CEO, Tailored Brands; Advisory Board Member, Macellum Private Capital
• Bob Johnson — Founder & Chairman, The RLJ Companies; Founder and Former CEO, Black Entertainment Television; Advisory Board Member, Macellum Private Capital

About Macellum Private Capital:

Macellum Private Capital is a private investment firm focused on investing in Black- and minority-owned or -led businesses in the Consumer and Retail Ecosystem. Our investment model provides a unique and compelling value proposition to founders and management teams, making us a well-suited financial and strategic partner to companies seeking a value-added, engaged investor. For more information, please visit www.macellumprivatecapital.com or contact information@macellumpc.com.

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