The French clothing brand Atelier de Production et de Création (A.P.C.) and consumer-focused investment firm L Catterton have announced a strategic partnership to advance A.P.C.’s global expansion.
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L Catterton Europe will acquire a controlling interest in A.P.C., with objectives including deepening the brand’s international expansion and enhancing its digital presence. Terms of the transaction, expected to close by the first quarter of 2023, were not disclosed.
Jean Touitou, who founded A.P.C. in Paris and has managed the brand since 1987, will continue to hold a minority stake with brand artistic director Judith Touitou.
A.P.C. has gained a cult following over the last 36 years, with its unostentatious leather goods and denim jeans becoming especially iconic. While its roots are in France, more than 80 percent of sales come from outside of the country, with its strong distribution network in 70 countries across Asia and North America. Complementing physical sales in 100 retail stores as well as a wholesale network of specialty and high-end department stores, online sales represent 30 percent of its revenue.
For its part, L Catterton has invested in scaling global fashion brands for 34 years, managing more than USD33 billion of capital in private equity, credit, and real estate. Its apparel investments have included, among others, Birkenstock, Etro, Ganni, Savage X Fenty, Ba&sh, and Gentle Monster.
Jean and Judith Touitou said, “We take great pride in having established A.P.C. as a timeless brand that resonates with consumers globally. After 36 years under our stewardship, we are thrilled to partner with L Catterton’s team, who share our vision for A.P.C. and bring a real know-how in international brand development. With L Catterton’s support and extensive knowledge of the fashion category, we are embarking with great enthusiasm and determination on an exciting and ambitious new chapter of growth.”
Eduardo Velasco, a Partner in L Catterton Europe, said, “We are delighted to partner with A.P.C.’s visionary founders, Jean and Judith, and talented leaders, François-Cyrille and Joël, to support its global growth while preserving its values.”
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Current CEO François-Cyrille de Rendinger will stay as President, while deputy CEO Joël Sraer will serve as CEO.