Le Temps des Cerises adds three new investment funds to its capital
Le Temps des Cerises, which claims to specialise in jeans that "make a beautful butt", is now strengthening its position by reshaping its capital. The Marseilles-based denim brand is carrying out a second minority leveraged buyout: it will see the exit of the Siparex and Bpifrance funds, which entered in 2014 during a first LBO, and the entry of a trio of investors to take their place.
The three latest additions are Trocadero Capital Partners, which holds stakes in Adopt' and Blissim, the Turenne Group, who is active in Sophie Hallette and Blancheporte and Smalt Capital, a fund specialising in investment in the PACA region. The amount of the transaction has not been disclosed.
The majority of the brand's capital is still held by its CEO Lylian Richardière, co-founder of the label in 1998 with his father Gil Richardière. The CEO is associated with senior executives, including the general manager Peggy Bienvenu, who will be injecting funds into the company as part of this new deal. Lylian Richardière is also reinvesting in the deal and thus increasing his stake in the company.
"We are delighted to welcome new partners to our side, who have convinced us of their motivation and the added value they will be able to bring to us to continue and support our development while respecting the values that have driven us since the company's creation," explained Richardière in a press release.
After making the structure more omnichannel, Le Temps des Cerises intends to expand internationally. To date, it relies on a network of 85 shops under the brand name, located in France and abroad in Spain, Belgium and Luxembourg, as well as a network of over a thousand multi-brand retailers in Europe.
A major player in denim, Le Temps des Cerises has opened up its wardrobe over time to men's and women's ready-to-wear (T-shirts, dresses, sweatshirts, shirts), and intends to further increase the amount of more responsibly produced items in its collections. Its turnover is not communicated, but according to the accounts filed by the company Indigo Gallery, which operates the brand, it generated a net turnover of 44.4 million euros in 2021, compared to 39.6 million euros in 2020.
Copyright © 2023 FashionNetwork.com All rights reserved.