The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.