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Stripe International acquires stake in Maison Kitsuné
Stripe International has acquired a stake in Maison Kitsuné, via the fashion label's parent company, Kitsuné Creative. The Japanese fashion group stated in a press release that it "agreed on a partnership on 26th September 2016" with the Parisian label, indicating that it is an "investment", and without disclosing the value of the transaction.
Stripe International, known until March 2016 as Cross Company, holds a portfolio comprising about ten local ready-to-wear labels, all positioned in the medium and high-end segments.
In 2009 it also took over US label Thom Browne, only to sell a majority stake in 2016 to US investment fund Sandbridge Capital, while still staying on as a minority shareholder.
On its website, the group reports for the 2014 fiscal year a revenue of JPY110.3 billion (approximately €956 million). Stripe International explained that it is keen to exploit the synergies generated by the new agreement, intending to rely on its new partner to enter the European market.
Also, the group stated in the press release that it will "join Kitsuné's strategic committee and contribute to the expansion of Maison Kitsuné, thanks to its know-how and experience on the US and Asian markets," while also indicating that it will not be involved in managing Maison Kitsuné Japan.
Maison Kitsuné was founded in 2002 by Gildas Loaëc and Masaya Kuroki, the twin creative directors for this casual-chic, ready-to-wear label for men and women. Maison Kitsuné is distributed through approximately 400 dealers and 10 directly owned stores, in Paris (4), New York (2), Tokyo (3) and Hong Kong (1), as well as via retail corners in leading department stores.
The brand has also opened three Kitsuné Cafés and operates its own music label. Thanks to the new investor, the label will be able to accelerate its expansion.
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