French clothing label APC, founded by independent designer Jean Touitou in 1987, has secured a financial partner in L Catterton. The investment fund, created by the LVMH group and the Arnault family, has acquired a majority stake in APC as part of its strategy to support the label’s global expansion. While the exact amount of the investment remains undisclosed, Touitou and his wife Judith Touitou, who joined the company in 1997, will retain a significant ownership interest. The collaboration with L Catterton will provide APC with invaluable expertise in international brand development, paving the way for an ambitious phase of growth.
APC has been diligently preparing for this exciting new chapter in recent years. The label’s previous investor, Audacia investment fund, which held less than 10% of APC since 2012, exited in 2017. Subsequently, in 2018, APC decided to disengage from the Vanessa Seward brand and focus solely on its own label. While specific revenue figures remain undisclosed, publicly available results indicate that APC experienced its most financially successful year in 2021, generating €82 million in revenue. A significant portion of APC’s sales, approximately 80%, originates from markets outside of France. The label currently operates approximately 100 stores globally and has witnessed substantial growth in its e-commerce platform, which now contributes approximately 30% of total revenue.
L Catterton, renowned for its support of successful fashion brands such as Ganni, Birkenstock, and Etro, is expected to elevate APC to new heights with its global reach and extensive experience in brand development. The partnership will also prioritize the improvement of APC’s environmental footprint, aligning with growing consumer demands for sustainable fashion. Eduardo Velasco, a partner at L Catterton, highlighted APC’s distinctive identity and authenticity within the fashion sector, resonating strongly with loyal customers.
The transaction is anticipated to be finalized in the first half of this year, coinciding with the appointment of two new key positions at APC. François-Cyrille de Rendinger has been appointed president, while Joël Sraer assumes the role of managing director. These new leadership appointments will play a pivotal role in fostering APC’s expansion and contributing to the label’s ongoing success.
With the support of L Catterton and its extensive global network, APC is poised to further expand its global presence and continue delivering timeless and authentic fashion. This partnership represents an exciting milestone for the French label, positioning it for future success within the international fashion industry.
Useful links:
L Catterton Official Website
APC Official Website
