Tomorrow buys control of Martine Rose, but share swap deal is a first for the firm
Tomorrow is continuing its drive to buy some of the most promising fashion labels and established independent names. It has just announced its majority investment in British menswear business Martine Rose, which is led by its eponymous founder.
The company said it “will act as a collaborative partner across all aspects of the development of the brand and the business, as well as being the global licensing partner”.
But in an interesting development, the deal also includes a share swap – the first of its kind for Tomorrow. This sees Martine Rose secure equity in the Tomorrow company “as the businesses work as partners moving forward”.
Tomorrow says the “extensive experience held by Martine Rose, with a strong and well-established relationship with its community having built a worldwide legacy stemming from its London roots over the past 14 years, is more developed than some of the emerging brands in which Tomorrow has previously invested”.
And it added: “During this time, Martine Rose has consistently influenced the direction of contemporary menswear, becoming one of the most in-demand creative directors in the fashion industry.”
The new investment is “a further step in Tomorrow’s ambition to build a portfolio of brands led by creative polymaths with a focus on authenticity, creativity, and community.”
And it means Martine Rose will be able to “invest in the studio team, develop new product categories, and grow the brand’s international presence”. The label will “leverage Tomorrow’s complete platform of digital and physical services, including product development and manufacturing, B2B services, B2C services, product development & production, as well as marketing & content development”.
Tomorrow’s CEO and co-founder Stefano Martinetto said: “It is no secret Martine had many options available to her, and the decision to choose Tomorrow is a testimony to our wonderful team’s hard work. These long-term decisions require an investment of the right amount of time – what we refer to as ‘emotional intelligence due diligence’ – and we have gladly spent the past 10 months working with Martine and the amazing team she has around her. We have huge respect for the phenomenal brand and community Martine has built, and we are excited that our ethos of championing and fostering the power of entrepreneurial creativity has ultimately led her and her team to choose to partner with us.”
Rose added: “I’m incredibly proud and excited to work with the team at Tomorrow to help me deliver on my ideas and scale my business. I have huge respect for what Tomorrow stand for and excited for what the future will bring.”
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