Private equity firm CVC has completed an investment in A Bathing Ape (BAPE), which was recently split off as an independent company from parent I.T. Limited as part of the latter’s privatisation process.
The amount invested and the size of CVC’s stake in BAPE were not disclosed, though the announcement of the deal’s completion did say it gave CVC “co-control” of BAPE, alongside I.T. Limited co-founder, chairman and CEO, Sham Kar Wai.
CVC said it plans to support the expansion of the business both online and geographically in markets such as China, the United States and Europe.
BAPE was founded in Tokyo’s Harajuku district in 1993 and now boasts a line-up of labels, including A Bathing Ape, AAPE, Baby Milo, BAPE Black, and Mr Bathing Ape.
“BAPE is an iconic brand with a loyal fan base that has defined the fashion industry with its premium streetwear designs. We are looking forward to bringing this exciting brand to more markets and new customers around the world,” said Yann Jiang, director at CVC.