Olympia Le-Tan raises one million euros from Audacia
Olympia Le-Tan is taking another important step in its young life. The brand, which was launched in 2009 by the designer of the same name and her associate Gregory Bernard, has now received one million euros in investment from French investment firm Audacia in order to further its development.
Initially launched in an accessories niche, Olympia Le-Tan became known for its whimsical book clutches. But since then, the French designer has gradually expanded her dreamlike, fantastic and a tad backward looking universe, particularly with the launch of the brand’s first ready-to-wear collection in 2012.
Gaining visibility and building a name for itself, Olympia Le-Tan opened its first brand store in 2014 in Paris' 1st arrondissement.
Expanding its store network and strengthening its range are now included among Audacia's objectives. "Thanks to Audacia’s support, Olympia Le-Tan will step up its development by expanding the brand’s range of products and reinforcing both its design and sales teams, most notably of its e-shop," said Christine Ponelle, president of the young fashion house.
Audacia, which has previously invested in Balibaris, Antik Batik and A.P.C., sees significant potential in Olympia Le-Tan’s original positioning: entry-level luxury.
In the past year, with hundreds of retailers worldwide, the brand generated a turnover of 3 million euros (90% from international sales).
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