Centricus expands into fashion with investment in Chalayan
Hussein Chalayan has the support of a new investor. The investment platform Centricus has announced that it has acquired 20% of the capital of the Turkish-Cypriot designer's company.
The brand has made a name for itself thanks to the creativity of its founder and strategic relationships with music and movie stars. Indeed, Chalayan often stresses this well maintained and highly mediatized link with celebrities as a selling point for the brand, an approach that shouldn't be changed by the participation of Centricus. The investment platform, which was founded by Dalinc Ariburnu and Nizar Al-Bassam and has offices in Jersey and London, has chosen to support the brand as it develops and grows its overseas business.
Thanks to its international network, the platform intends to help Chalayan to enter the Chinese market and support the evolution of a more technological approach. The move comes as Mehves Ariburnu steps into a new role as CEO of the company, having previously founded the Mana contemporary art gallery in Istanbul after a career in banking. For Centricus, which already maintains a presence in events, sport and media, this investment is a first step into fashion.
"We are thrilled to be entering the fashion industry with an investment in such a prestigious brand," explained Goldman Sachs alum Dalinc Ariburnu. "With Centricus' backing, Chalayan will have access to the management expertise and capital strength to support its geographic expansion and technological development."
Chalayan, which was founded in 1994, operates through its London flagship at 2 Bourdon Street. The brand does not, however, have its own e-commerce site, and is currently sold through Farfetch.
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