The investment company L Catterton is expanding its portfolio with another well-known fashion brand. On Thursday, the company announced that it would take a majority stake in French label APC (Atelier de Production et de Création).
The aim of the “strategic partnership” is to expand the international presence of the brand, according to a statement. The transaction should therefore be completed by the end of the current quarter, financial details were not published. Among other things, L Catterton manages the investment and real estate businesses of the LVMH-owning Arnault family and currently holds majority stakes in fashion companies such as Birkenstock, Etro and Ganni.
In order to continue pursuing the “common vision” of the two companies, L Catterton is relying on continuity in terms of personnel at the fashion brand: Even after the takeover, founder Jean Touitou and his wife Judith, who acts as Art Director of APC, will “be directly involved in the project remain”. Only small changes are planned in the management of APC. Current CEO François-Cyrille de Rendinger will retain a leadership role as President, with his previous deputy Joël Sraer as the new CEO.
Welcoming the new owner, Jean and Judith Touitou said: “Thanks to L Catterton’s support and vast knowledge of the fashion industry, it is with great enthusiasm and determination that we embark on a new exciting and ambitious growth chapter,” they said in a statement.