Officine Générale, the renowned Parisian fashion brand known for its men’s and women’s ready-to-wear collections, is entering a new phase of expansion thanks to funding from U.S. investment fund The Untitled Group. The exact amount of the investment has not been disclosed, but it is accompanied by an increased stake from existing investor BPI France. Founder Pierre Mahéo will remain the majority shareholder of the brand, which has gained recognition for its elegant and high-quality designs.
Despite the challenges posed by the COVID-19 pandemic, Officine Générale has shown strong growth, with a notable 18% increase in sales in the fiscal year ending April 2021. The brand’s e-commerce revenues have experienced an impressive 80% surge, showcasing the resilience and adaptability of the business.
Building on this positive momentum, Officine Générale is committed to enhancing its digital presence with the infusion of funds. However, the brand also has grander aspirations. Mahéo firmly believes in adopting an omnichannel approach and plans to open 12 new boutiques within the next three years. The immediate priority is to establish a store in New York, followed by another location in Los Angeles by spring of next year. The expansion into the U.S. market is crucial, as it currently represents 50% of the brand’s wholesale revenues and 30% of online sales. Officine Générale already works with 50 retail partners across the country.
Securing the support of an American partner, such as The Untitled Group, is seen as a strategic move for the brand. The fund’s founders, Josh Rowan and Adam Freed, share Officine Générale’s values and offer valuable guidance and resources. Although the brand initially aimed to secure financing in 2020, the pandemic disrupted those plans. In light of the expansion efforts, Vanessa Bonnefoux, a former CFO of Officine Générale and CEO of French children’s brand Bonton, has been appointed as the new CEO to lead the brand’s growth phase.
Currently, Officine Générale operates four boutiques in central Paris, along with a presence in the prestigious department store Le Bon Marché. The brand also has a store in London’s Soho district. In France, Officine Générale plans to open a larger store in Paris to showcase its new retail concept and is also exploring opportunities in Lyon. Furthermore, the brand is considering expansion into Munich and Geneva, demonstrating its ambition to establish a global footprint.
Officine Générale’s upcoming collection will be unveiled in Paris on June 25, reaffirming the brand’s commitment to creativity and innovation. With the support of The Untitled Group and BPI France, Officine Générale is poised for further success as it expands its presence in the United States and beyond.
Links:
– [Officine Générale Official Website](https://www.officinegenerale.com/)
– [The Untitled Group](https://www.theuntitledgroup.com/)
