L Catterton is selling its majority stake in French label Ba&sh.
The new owner is investment group HLD, which specializes in backing and developing European companies, L Catterton announced on Tuesday. The terms of the transaction were not disclosed. Closing of the transaction is subject to consultation with employee representatives and approval by the authorities.
“Ba&sh is a model at the forefront of new consumer trends: the implementation of an omnichannel strategy has been accompanied by a strong commitment to managing its environmental footprint,” said Cédric Chateau, Chair of HLD’s Investment Analysis Committee. “For these reasons, Ba&sh has great development potential, whether in terms of geographic expansion or the commercialization of new product categories.”
L Catterton, which is also the majority owner of Birkenstock, invested in Ba&sh in 2015. Since the investment company took a stake in the brand and CEO Pierre-Arnaud Grenade was appointed, Ba&sh has “undergone a significant transformation,” the statement said. Sales have increased sevenfold over the past seven years. In 2022, sales are expected to reach 320 million euros.
The women’s fashion label, founded in 2003 by Barbara Boccara, Sharon Krief and Dan Arrouas, generates more than half of its sales outside of France and is distributed in 40 countries worldwide. In addition to women’s fashion, the range has been expanded to include accessories such as sneakers, jewelery and leather goods.
“We are honored to have worked with Barbara, Sharon, Dan and Pierre-Arnaud to support the brand’s rapid expansion over the past seven years and are confident that their growing presence will continue to support the affordable luxury market will continue to redefine HLD,” said Eduardo Velasco, Partner at L Catterton Europe.