- Marjorie van Elven |
Chanel has announced the acquisition of Orlebar Brown, the British luxury swimwear brand. The label was purchased from a series of shareholders, including investor Piper and the company’s founder Adam Brown. The terms of the transaction were not disclosed.
“We are delighted to welcome Orlebar Brown to Chanel”, said Philippe Blondiaux, Chanel’s Global Chief Financial Officer, in a statement.
Originally founded as an online business, Orlebar Brown operates 24 stores in 22 countries. Its products, which have been worn by celebrities such as Daniel Craig and Jay-Z, are also sold by more than 250 stockists around the world.
Chanel purchases Orlebar Brown, sees ‘synergy’ with its own label Eres
The French fashion house said the investment offers it the opportunity to benefit from Orlebar Brown’s e-commerce expertise. The company also sees “multiple potential synergies” with its other brands, in particular swimwear label Eres.
“This acquisition represents an ideal opportunity for synergy between Orlebar Brown and Eres. As a ‘digital native’ brand, Orlebar Brown will enable Eres to strengthen its digital expertise and optimize its omnichannel distribution strategy. Orlebar Brown, on the other hand, will benefit from the retail experience and expertise of a long-standing player in high-quality beachwear”, added Blondiaux.
In August, the high-end label was said to have hired business advisors from Cavendish Corporate Finance to explore future options for the company. The brand, which sells swim trunks ranging from 95 to 395 pounds, is expected to hit 23 million pounds in turnover this year.
Photo: courtesy of Orlebar Brown