Looking for an investor for several months, the very independent Jean Touitou has finally found a financial partner for his Production and Creation Workshop. In recent weeks, the name of L Catterton has come back insistently as holding the rope to acquire the French ready-to-wear brand launched in 1987.
It is indeed the fund co-founded by the LVMH group and the Arnault family which invests in the company in order to “accélerer on growth internationale”, is it announced this March 2 by press release. It is also specified that although L Catterton acquired a majority stake, without the amount of the transaction being revealed, Jean and Judith Touitou (who joined the company in 1997) retain a significant stake.
“We are trAnds proud d‘to have accompli and work of quality et d‘to have are create a marque timeless et footprint d‘humanity Who resounds auprAnds of clients of monde whole, they say. AprAnds thirty six ans sous notre direction, We are treated of We associate to teames of L Catterton Who share notre vision pour A.P.C. et bring and TRUE know–faire In the development of marques To l’international. With the support of L Catterton et on awareness thorough of l‘universe of the marques, We let’s start with enthousiasme et determination and nouveau chapter of growth ambitious”.
The French company was certainly in the best possible position to undertake this project. In 2017, the Audacia fund, which had held less than 10% of the capital since 2012, withdrew. And as early as 2018, the APC group had decided to withdraw from the Vanessa Seward label, which at the time achieved less than 4 million euros in turnover but accumulated operating losses, to focus on its eponymous brand.
APC does not disclose the amount of its sales. According to figures filed in France, on the declared scope, the company achieved its best financial year in 2021, recording 82 million euros in turnover.
Today, across all of its activities, it achieves 80% of its sales internationally and has around a hundred stores around the world. It also relies on online sales which have improved considerably and now represent around 30% of its business. L Catterton, who has currently supported brands such as Ganni, Birkenstock or Etroshould allow it, with its seventeen offices around the world, to reach a new milestone.
“Equipped commitments forts in deadAndre d‘footprint environmental et d‘a strategy internationale solid, A.P.C. East a marque differcoloreh et trAnds visible. Elle benefits Also, To travers son history et ses values relayed par all the team, d‘a identify unique In the monde of the mode. Son authenticity cheek and role determining In the fort content emotional that‘elle brought To ses consumers loyal, advance Eduardo Velasco, partner chez L Catterton. We We rejoice what L Catterton, with notre presence world et notre expertise recognized In the development of marques, either to cUmbrellatIt iss of ses founders visionaries, Jean et Judith, et of ses talented leaders, François–Cyril et Joël, pour to accompany the growth d‘A.P.C. et to write ensemble the suite of l‘adventure unique of the marque.”
This transaction, which must be finalized at the end of the first half of this year, comes with appointments. Thus, François–Cyril of Rendinger, current director ggeneral, is named au followingwards of president et Joël Sraer, was director gIt isnIt isral adjoint, becomes ddirector gIt isnIt isral.
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