L Catterton acquires majority stake in A.P.C.

Private equity firm L Catterton has acquired a majority stake in French casualwear brand A.P.C.

The LVMH-backed fund will propel A.P.C.’s international growth, which is current sold in over 70 countries and sees 80 percent of its turnover generated from regions outside France.

Best known for its clean styling, denim and leather goods, A.P.C., which stands for Atelier de Production et de Création, was founded in 1987 by Jean Touitou. Mr Touitou and his partner Judith Touitou will continue to be minority shareholders.

A statement by L Catterton said Jean and Judith built the success of A.P.C. through constant attention to quality, creativity, accessibility and audacity. They have thus attracted the support of many artists and celebrities but have also built a loyal and dynamic community of customers of all ages.

L Catterton has a track record of investing in global apparel brands. For example, current and past investments include Birkenstock, Etro, Ganni, Savage X Fenty, Ba&sh, Jott and Gentle Monster, among others.

International expansion

Both Asia and North America are key regions for the brand’s sales, which saw growth across all channels. E-commerce accounts for nearly 30 percent of its turnover. The company operates around 100 stores and also has a presence in many department stores and multi-brand luxury e-commerce sites.

The partnership with L Catterton is based on a common vision of A.P.C., the brand’s aesthetics, its values and ambition. The investment firm said the purpose is to take a new step forward in notoriety and development, further building international sales, while preserving its authenticity.

Jean Touitou and Judith Touitou, Founder and Artistic Director of A.P.C., said: "We are very proud to have accomplished quality work and to have been able to create a timeless brand imbued with humanity that resonates with customers around the world. After 36 years under our leadership, we are delighted to partner with L Catterton teams who share our vision for A.P.C. and bring a real know-how in international brand development. With the support of L Catterton and his extensive knowledge of the world of brands, we are embarking with enthusiasm and determination on a new chapter of ambitious growth.”

Terms of the deal were not disclosed.