Scalpers on the lookout for buyers
A new owner could soon acquire the Sevillian fashion company founded in 2007 and led by two of its founding partners, Borja Vázquez and Alfonso Vivancos. The ready-to-wear firm is currently controlled by investor Jaime Begel, who owns 70% of the capital, and has commissioned the financial advisor Arcano Partners the sale of its majority stake on Monday, Feb. 7, according to the newspaper El Confidencial. Among the potential buyers will be the Spanish giant El Corte Inglés, which is currently controlled by Víctor del Pozo.
The Seville-based brand was launched by the Duke of Feria, Rafael Medina, together with a group of investors, among whom only Borja Vázquez and Alfonso Vivancos remain in the company today as executive directors who retain 20% of its capital. Seven years after the menswear brand’s inception, the tycoon Jaime Bergel took control of the company by acquiring 70% of its capital together with Pedro Sainz de Baranda through his investment vehicle, the Trendsetters & Fashion fund. The investment involved the acquisition of the company’s outgoing partners’ shares, those that belonged to Alberto Artacho, Marcos Ybarra and Laura Vecino, Rafael Medina’s wife (who had kept his shares when he left the company to join Inditex). The other 10% of the brand's capital remains in the hands of the Phoenix Group and other minority partners.
With over 1,300 employees, a presence in six countries, and with close to 250 points of sale, the company additionally controls the footwear brand Mim shoes and Victoria (Vicky Martín Berrocal's occasion wear brand). In the last fiscal year, the company surpassed its pre-pandemic figures, growing by more than 50% to €110 million in turnover. Its online channel accounted for 24 % of sales, thanks to its presence in retailers such as Zalando and El Corte Inglés, its own online store and "Invited Brands'" performance, its multi-brand e-commerce platform that launched last year.
For the current fiscal year, the brand plans to continue its diversification strategy by entering the sportswear category. This initiative succeeds the brand’s expansion into womenswear, which has already accounted for 20% of the brand's total turnover, as well as its kids wear and home categories that launched in the past recent years.
If the transaction is completed in 2022, coinciding with its 15th anniversary, Scalpers will follow in the footsteps of the also Spanish brand, El Ganso. In 2015, the Cebrián family sold 49% of its capital to LVMH’s L Capital (now L Catterton), the luxury conglomerate’s investment fund. However, the founders regained control of the company by buying back 100% of the capital only three years later.
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