Vanessa Seward looking for new investor to reach next level
today Apr 27, 2018
Vanessa Seward needs to find new backing. Since the launch in 2014, the womenswear label founded by the eponymous designer, notably a former Creative Director of Azzaro, relied for support on the organisation of French label A.P.C. According to our sources however, the two are about to part ways.
A.P.C. is in fact set to disengage from the high-end ready-to-wear label, whose collections have been shaped by Vanessa Seward’s 1970s design mood in the last four years.
“To begin a second development phase, allowing [Vanessa Seward] to reach its growth objectives, notably through expansion on international markets, new investment will be needed on a scale which A.P.C. is currently unable to sustain without impacting its own development,” said the group, founded in 1987 by Jean Touitou, to FashionNetwork.com.
Indeed, according to A.P.C., which provided the initial backing for the label which now shows regularly in Paris, Vanessa Seward is currently looking at the second stage in its development. In 2017, the French label’s revenue was €5.5 million, generated via four directly owned stores (three in Paris and one in London, while the store opened in Los Angeles in 2016 has now closed down), as well as through 55 international retailers, among them Le Bon Marché, Le Printemps, and Beams in Tokyo. France and Japan are Vanessa Seward’s main markets.
Argentina-born Vanessa Seward is now looking for a new financial partner to be able to continue her journey separately from A.P.C. Their collaboration began in 2012, with a series of capsule collections jointly designed by Vanessa Seward and Jean Touitou’s label, which then supported the launch of the Vanessa Seward brand two years later.
According to our sources, the investment opportunity has been presented to several funds and private equity firms. For the time being however, both Vanessa Seward and A.P.C. have declined to comment on the progress being made in talking to potential investors.
A.P.C. is in the meantime busy growing its own business, focusing both on the accessories segment and on its international deployment: the label currently relies on more than 70 stores and 300 retailers worldwide, generating an estimated revenue of €60 million.
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