PARIS, France — French fashion label Zadig & Voltaire said on Monday that it had received new investment funding from private equity firm Peninsula.

Zadig & Voltaire said it would remain majority-owned by its founder Thierry Gillier, while TA Associates, the current minority partner, will be exiting its investment. The financial terms of the transaction were not disclosed.

"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," said Peninsula Managing Partner Stefano Marsaglia.

By Sudip Kar-Gupta; editor: Louise Heavens.