BPIFrance invests in Lemaire through its new Mode et Finance funds

Mode et Finance, the French venture capital firm managed by BPIFrance, has taken a minority stake in Paris-based fashion label Lemaire.

BPIFrance said Tuesday it has acquired a minority stake in the Lemaire fashion brand to support its development in France and internationally, as reported by ‘Les Echos’.

The operation was achieved through two new funds ‘Mode and Finance’, BPIFrance dedicated funds for the luxury and fashion markets. Previously, PBIFrance closed its prior Mode et Finance fund after investing in Yiqing Yin, Bouchra Jarrar or Ami, specialist ready-to-wear.

The investment of BPIFrance aims to support the development of sales outlets of the brand as well as its diversification in the accessories, with a first leather collection expected in early 2016.

It is worth of remembering that the French designer is poised to launch its first collaboration with Japanese retailer Uniqlo this autumn.

The label created by Christophe Lemaire, former artistic director of Hermès, has enjoyed steady growth during the last two years, from less than two million euros in sales in 2013, to five million over 2014-2015.

For the current fiscal year, ending March 2016, sales are expected to reach 7 million euros, advanced for Reuters Daguzan Bastien, Director General of Lemaire.

Headed by Christophe Lemaire, former creative director for women's wear at Hermès, and his partner Sarah-Linh Tran, the label is known for timeless women's and men's creations, with inspirations ranging from traditional Asian clothing to workwear and Eighties tailoring.