Private equity firm L Catterton, whose current apparel investments include Sweaty Betty, Ganni and Pepe Jeans, has bought a controlling stake in French casual outerwear brand JOTT (Just Over The Top).
The Gourdikian family, which founded JOTT in Marseille in 2010, will continue to hold a “significant equity interest” in the business moving forward.
The brand, which sells urban casualwear and is known for its light down jackets, currently distributes its collections through a network of concept stores as well as wholesale clients.
In conjunction with this announcement, Didier Lalance, who has nearly 30 years of management experience and has worked at brands including Lacoste, Kering and Asics, has been named new CEO of JOTT
JOTT president Patrick Gourdikian said in a statement: “We are thrilled to partner with L Catterton to further develop JOTT as a leading omnichannel brand with an expanded footprint across Europe and Asia.
“L Catterton shares the same vision for JOTT and passion for building distinctive brands in the apparel segment. With L Catterton's support and expertise in scaling and operating apparel brands globally, we will continue to capture JOTT's strong brand loyalty among customers and drive our business through its next phase of growth.”
Eduardo Velasco, partner of L Catterton Europe, said: “Partnering with JOTT, its visionary founders, and staff is a fantastic opportunity to further develop one of France's most iconic brands in the premium casual outerwear space.
“In just a few years, JOTT has become a leader in its market segment with distinctive and colourful clothing, and an efficient multichannel distribution strategy, which will all continue to be key pillars of its business model going forward. We are excited with Didier joining this amazing project alongside us to support JOTT's future growth.”
Photo credit: JOTT, Facebook