L Catterton acquires majority stake in A.P.C

L Catterton has announced that it has acquired a controlling stake in global French clothing brand, Atelier de Production et de Création (A.P.C.), to advance the brand's international presence. Since the brand’s inception in 1987, Jean Touitou founded and has been managing A.P.C. He was joined by Judith Touitou in 1997. Post the acquisition, they will continue to hold a significant minority in the brand. Founded in Paris, A.P.C. is known for its use of “high-quality” raw materials, “minimalist style” , and “strong” cultural universe. A.P.C. is recognised as an international brand with more than 80% of sales outside of France and a strong distribution footprint in 70 countries, including across Asia and North America. With online sales representing nearly 30% of its revenues, it has a growing platform of approximately 100 retail stores. L Catterton also has a track record of partnering with apparel brands globally such as Birkenstock, Etro, Ganni, Savage X Fenty, and many more. Jean and Judith Touitou, A.P.C. founder and art director, said: "We take great pride in having established A.P.C. as a timeless brand that resonates with consumers globally. After 36 years under our stewardship, we are thrilled to partner with L Catterton's team, who share our vision for A.P.C. and bring a real know-how in international brand development. “With L Catterton's support and extensive knowledge of the fashion category, we are embarking with great enthusiasm and determination on an exciting and ambitious new chapter of growth." Following the close of the transaction, current CEO François-Cyrille de Rendinger will serve as president and current deputy CEO Joël Sraer will serve as CEO. Eduardo Velasco, a partner in L Catterton Europe, said: "A highly differentiated brand with a robust international strategy and sustainability at its heart, A.P.C. is praised for its authenticity, a defining attribute that nurtures the strong connection and emotional attachment from its loyal customers. “We are delighted to partner with A.P.C.'s visionary founders, Jean and Judith, and talented leaders, François-Cyrille and Joël, to support its global growth while preserving its values. We are confident that with our vast global network and extensive experience building fashion brands, A.P.C. will be well positioned to continue revolutionising the fashion industry." The transaction is expected to close by the end of the quarter.