Italian private equity firm Style Capital has acquired a majority stake in French contemporary apparel and accessories label Soeur, the two companies announced today. The terms of the deal were not disclosed.
Under its leadership, Style Capital plans to expand Soeur’s wholesale presence and into new international markets. The brand, which was founded in 2008 by sisters Domitille and Angélique Brion, currently operates 48 stores and its own digital channels account for 30 percent of all sales. It currently operates in its home country of France and across Europe, in the United States and South Korea. Soeur’s previous investment partner, French investment fund Experienced Capital, which held a minority stake in the brand, will exit the company with the new deal.
Style Capital has made several investments in the fashion space, including Golden Goose, Re/Done and Zimmermann.
This week, the Australian label’s founders and private equity backers sold a majority stake to Advent International in a deal valuing the business at just over $1 billion at a time when others in the accessible luxury space have struggled to find buyers.