Style Capital to Buy Majority Stake in French Brand Soeur
MILAN — Milan-based private equity fund Style Capital has signed an investment agreement to acquire a majority stake in French brand Soeur.
“We are convinced that Soeur is a brand with strong potential of growth in the contemporary fashion market, with the possibility to increase its international footprint thanks to a well-defined identity and a well-defined creative vision,” said Roberta Benaglia, founder and chief executive officer of Style Capital. “We are delighted to be able to support the company in the next stage of its development and we are convinced of its potential to establish itself as a strong international brand.”
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The agreement is expected to help accelerate Soeur’s development by continuing its digitalization, expand its wholesale presence and increase its brand awareness.
French investment fund Experienced Capital, which acquired a minority stake in Soeur in 2016, will exit the brand.
Sisters Angélique and Domitille Brion, who founded the brand in 2008, said in a statement that they were “very grateful for the outstanding support provided by ECP, which has been crucial to Soeur’s success, and happy to be entering a new chapter in our history with a highly competent and legitimate group such as Style Capital.”
Style Capital is acquiring an 80 percent stake in Soeur. The enterprise value is 70 million euros.
Soeur, which means sister in French, is a women’s ready-to-wear and accessories brand headquartered in Paris known for its blend of rock and bohemian influences with androgynous tailoring.
Backed by Experienced Capital, it embarked on a retail expansion, opening flagships and investing in the development of its digital business, which now accounts for 30 percent of sales.
Soeur’s network includes 48 directly operated stores and nearly 500 multibrand boutiques.
Style Capital plans to further extend the reach of the brand, which is mainly established in Europe, the United States, its second biggest country, and South Korea.
Emmanuel Pradère, president of Experienced Capital, said the brand “has everything it takes to become a global reference in women’s fashion.”
Earlier this month Soeur teamed with K-Way on a capsule collection that showcased the latter’s new, more sustainable water-repellent nylon. As reported, general manager Freja Day told WWD sales were up by more than 50 percent in the first eight months of the year and the brand expects to end 2023 with revenues of more than 50 million euros.
Soeur plans to open a boutique in London in early November, following three in Spain earlier this year.
The brand has previously collaborated with artist Katrien De Blauwer and influencer Leandra Medine Cohen. In addition to the K-Way capsule, Soeur is partnering with J.M. Weston on footwear.
Style Capital’s portfolio includes Los Angeles-based denim brand Re/Done and Italian labels Forte Forte and MSGM. In 2021 it invested 130 million euros to acquire a 40 percent stake in Florence-based multibrand e-tailer LuisaViaRoma, one of the four leading luxury online shopping destinations in Europe and the U.S.
Last August, Style Capital said it was selling a majority stake in Zimmermann to Advent. The Italian fund and the Zimmermann family retain a significant minority shareholding. Style Capital originally acquired a 70 percent stake in Zimmermann in late 2020. Other previous investments range from Twin-Set and Sundek to Damiani and Golden Goose.
Experienced Capital was founded in 2016 by Frédéric Biousse, Elie Kouby and Emmanuel Pradère and holds stakes in Balibaris, Soeur, Le Slip Français, Figaret, Sessùn, BAM Karaoke Box, NV Gallery, L:a Bruket, Oh My Cream!, Monday Sports Club, Nouvelle Garde and Reform.
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