Bimba y Lola seeks strategic investor to fund expansion
Designer womenswear brand Bimba y Lola has stores in Europe, South America and the Middle East, and is now looking to take the business to the next level with help of an investor.
According to a report from El Confindencial, the Spanish label is currently analysing its options with financial institutions including Rothschild & Co, Lazard and Arcano. It hopes that a new investor will allow it to realise its expansion plans.
Bimba y Lola is a contemporary brand founded by two nieces of fashion designer Adolfo Dominguez. Its collections, full colour and high-end details, retail at relatively affordable price points and target young aspirational women.
The brand hit the headlines in 2013 with rumours saying that L Capital, the private equity fund sponsored by LVMH, was in talks to invest in the company, however a formal announcement never came.
Bimba y Lola is currently focused on expanding in international markets, which currently account for 30% of total sales. It expects international sales to reach 50% of total revenue in the coming years.
Revenue for the financial year 2016 is expected to be in the region of 145 million euros. The company’s latest results released in December show that the brand increased its revenue by 29% in the third quarter.
Bimba y Lola has currently 221 standalone stores and concessions, and is planning to add up to 10 new boutiques to take the total number of outlets to 230.
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