We've written many times before about men paying attention to how the women in their lives spend household money. I like to think I do pretty well on that score, but I'm not perfect. My wife will happily offer up more examples of my not paying attention or listening than you can count on all of your digits -- yes, even if you have your shoes off.
I'm paying attention now. Yesterday, women's clothier and Motley Fool Hidden Gems selection New York & Co.
New York & Co. is an investment I've been thinking about for a couple of months now -- ever since we recommended it to subscribers -- but the acquisition of the Jasmine chain cinches the deal for my household.
Although my wife grew up in Tokyo and is accustomed to being able to easily pick up the latest trends, she does enjoy shopping at a number of U.S. retailers. A short list includes Abercrombie & Fitch
About seven months ago, after narrowly avoiding another wallet-draining session at JasmineSola, I set out to learn more about the company. I was fairly sure I wouldn't find a company I could buy common shares in, and I was right. But I did stumble upon a number of articles on Jasmine, including one article in The Boston Globe mentioning that the company was in talks with venture capitalists to fund an expansion beyond the nine stores it has in Massachusetts, two in Connecticut, and one in Rhode Island.
At the time, I assumed the company's involvement with venture capitalists meant that I would be able to buy shares in the company sooner or later, and I made a mental note to keep track. It looks as if "sooner" was the better bet. It also looks as if Jasmine has decided that New York & Co. offers a better fit than going the venture-capital route.
I'm thrilled. I have the opportunity to invest in a company that I already considered an intriguing value by itself that now has an additional avenue for future growth. And it's a company that our family is already very familiar with. It's an investment opportunity that doesn't come along every day, and I don't plan on missing it.
For more on how to Foolishly think like a woman, see: