French luxury fashion brand Zadig & Voltaire has sold a minority stake to UK private equity firm, Peninsula, according to multiple reports.
SEE ALSO : Fast Retailing signed the Fashion Industry Charter for Climate Action
Financial terms of the transaction were not disclosed.
Zadig & Voltaire will remain majority-owned by its founder Thierry Gillier, while TA Associates, the current minority partner, will be exiting its investment.
“We are delighted to welcome Peninsula as our new partner. Their long-term investment horizon and retail expertise are fully aligned with Zadig & Voltaire’s entrepreneurial values and history,” Thierry Gillier, chairman of Zadig & Voltaire.
“Our company continues to benefit from an exceptional development potential, particularly online, and in the US and Asia. We look forward to working with Peninsula to continue the strong growth of Zadig & Voltaire worldwide. I also want to thank TA Associates. With our shared values, this proved to be a successful partnership that helped the company double in size, enter the US market and professionalise the management team,” continued Thierry.
Following the transaction, Gillier will remain chairman of the company with the support of a new CEO, Remy Baume, who is also joining as a shareholder. Cécilia Bönström will also remain as the brand’s creative director, a role she has held since 2006.
“We have closely followed the development of Zadig & Voltaire for a long time, and we are delighted to partner with Thierry Gillier, Cecilia Bonstrom, Remy Baume and the entire management team,” said Stefano Marsaglia, co-founder and managing partner at Peninsula.
“Thierry’s vision has driven Zadig & Voltaire from its creation to becoming one of the leading French modern luxury brands, and we share his ambitions. We look forward to contributing to the future success of Zadig & Voltaire, and to leverage our retail expertise and global network to help the company achieve its full potential. This transaction marks the entry of Peninsula in France, and we are glad to make this investment in a company with such a unique brand with tremendous growth opportunities worldwide,” continued Stefano.
Founded in 1995, Paris-based Zadig & Voltaire is known for its luxury men and women’s fashion and accessories, designed with a rock edge.
SEE ALSO : LVMH acquires stake in Masoni tannery
The company today operates some 400 boutiques and shop-in-shops in more than 30 nations around the world, and generates retail sales in excess of 350 million euros.