Tara Jarmon sold by founders to Jean-Paul Bize
Tara Jarmon has been working on a new stage in its development, and looking for fresh resources to support it. The womenswear label's quest has been successful, confirming the information published by FashionNetwork Premium on 16th September: the label's founders have sold a majority stake to AMS Industries, the private equity firm of French businessman Jean-Paul Bize.
The accessible luxury womenswear label has taken on board a new boss, even though the executive committee is unchanged and the founding couple, David and Tara Jarmon, have kept a small shareholding, whose exact value has not been disclosed. They will continue to manage the company together with Francis Varesano, whom they appointed general manager in spring 2015.
The management team will be tasked with delivering the expansion plan they mapped out. The priority is of course international expansion (Germany, the USA and Asia are primary targets), and the objective is to double the revenue, currently estimated at around €50 million, within five years.
"We had the potential and the plan, we were simply looking for the resources to support it. Now, we have it all!" commented Francis Varesano. "After talking things over with several fashion industry players, we chose Jean-Paul Bize. We were won over by his entrepreneurial experience, as well as by his long-term vision and his financial independence," he added.
Jean-Paul Bize made his career and his fortune in the energy sector. Through his family investment fund, AMS Industries, founded in 2003, he initially acquired stakes in sectors close to his expertise, before recently turning to the luxury goods sector. He confirmed his intention of creating a luxury conglomerate with the acquisition of Tara Jarmon, a label positioned at the segment's threshold, having bought jeweller Poiray, the Inwood hotel chain and cultured pearls specialist Tecla.
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