French maison Chanel announced last week its acquisition of the British luxury swimwear brand Orlebar Brown, for an undisclosed amount.
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Despite the terms of the deal being kept secret, Chanel claims to have purchased all company shares from Orlebar Brown founder, Adam Brown, and private equity firm Piper.
As part of the deal, Brown will stay on as creative director of the company, which started out specialising in high-end swim trunks and now retails polos, t-shirts, shirts and dress shorts.
The sale is the latest in a string of niche luxury label nabs by Chanel, who, last week also announced it had acquired a 20% stake in the F.P. Journe watch brand.
Chanel also owns Eres, the high-end women’s beach and lingerie brand that it acquired in 1996, which looks to be a complementary brand to the recently added Orlebar Brown.
“Besides the fact that we share the same values and the same approach towards quality and know-how, this acquisition offers an ideal opportunity for synergies between Orlebar Brown and Eres,” said Philippe Blondiaux, Chanel’s global CFO.
Backed by the Wertheimer family, Chanel has also invested in several other companies in the fashion and beauty space through its family office Mousse Partners, including Ulta and Bonobos.
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Founded in 2007 by Adam Brown, Orlebar Brown boasts 24 standalone stores in 11 countries and is stocked in more than 250 boutiques globally.
According to reports, its online store currently generates 40% of sales revenues.
Headquartered in London, Orlebar Brown employs 129 staff.