M1 and L Capital Asia take controlling stake in Pepe Jeans
The saga is over. As announced yesterday, M1 Fashion, owner of high-end tailor Façonnable, and L Capital Asia have taken control of Pepe Jeans. They have signed an agreement with L Capital Europe, and private equity funds Torreal and Arta Capital, who together hold 60% of the capital.
According to the press release, the investors will allow Pepe Jeans to enter a new phase by becoming completely global and strengthening its presence notably in Asia, the Middle East, the United States and Latin America. The management team currently in place, which holds 30% of the capital, has decide to reinvest.
For its 2013/2014 financial year closed on 31 March, the Pepe Jeans group generated 509 million euros in revenue, 70% by the Pepe brand and 30% by Hackett. The earnings before interest, taxes, depreciation, and amortization, or EBITDA, amounted to 69 million euros.
€1 = $1.13/£0.74
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