Great American Finances Luxury Watch WebsiteWednesday, January 11, 2017
Great American Capital Partners will provide a $20 million secured loan to Eleven James Inc. to support the company’s growth.
Eleven James is a luxury watch e-commerce website that works on a subscription basis. Members sign up and wear a timepiece for a few months, then switch to a new one. Subscriptions vary from $149 to $999 a month, depending on the watch collection.
A division of B. Riley Financial in Woodland Hills, Great American underwrites loans to middle market companies.
“We appreciate the time and effort Great American Capital Partners committed to partnering with us and supporting our business," Randy Brandoff, chief executive of Eleven James, said in a statement. "The successful capital raise validates Eleven James' business model, affirms its commitment to top-notch management, internal systems and controls, and firmly establishes our position as a leader in democratizing access to luxury goods.”