L Catteron invests in Scandinavian fashion label Ganni
Ganni, the Scandinavian advanced contemporary fashion brand, is the latest company to receive an investment from L Catterton. The private equity firm announced on Thursday a definitive agreement to make a strategic investment in the label.
Founded in Copenhagen in 2000, Ganni was born from the desire to create the perfect cashmere knit. The label has an established global presence in 400 retailers in 20 countries including Denmark, Norway, Sweden, the UK, Germany and the US. It also operates 21 concept shops in Denmark, Norway and Sweden.
The womenswear brand sells itself as an alternative to "classic" Scandinavian style and currently has a turnover of 40 million euros (around 47 million dollars).
Husband-and-wife team, creative director Ditte Reffstrup and CEO Nicolaj Reffstrup, currently own and run the Copenhagen-based brand and have been at the helm since 2009.
“Partnering with L Catterton is a hugely exciting opportunity for us to further build on the solid foundations that were laid since 2009. This comes exactly at the right time for Ganni and will drive us forward in the next few years as we'll get access to the knowledge and network of both L Catterton and LVMH,” said Nicolaj Reffstrup.
According to the CEO, Ganni has been an attractive brand to several investment firms, but the brand chose L Catterton because it felt the firm shared its vision.
He added, “We firmly believe that L Catterton will strengthen our business with their unparalleled expertise in brand building and their deep understanding of how a global fashion brand operates."
L Catterton, which was formed through a partnership between Catterton, LVMH and Groupe Arnault, has made over 200 investments in consumer brands since 1989, including Giuseppe Zanotti, GANT, Pepe Jeans, and SMCP (Sandro Maje Claudie Pierlot), and this year Gentle Monster, Rhone Apparel, Tula skincare, Mizzen + Main, Il Makiage, and Equinox Fitness.
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