Perfect Moment closes 6 million US dollar bridge loan

Luxury fashion and sportswear brand, Perfect Moment, loved by celebrities including the Duchess of Cambridge and Kim Kardashian West, has closed a 6 million US dollar bridge loan in preparation to go public on the Nasdaq later this year.

In a statement, Perfect Moment known for its stylish ski wear said that the bridge loan finance was to “support its rapid growth and provide funding for international expansion” as it prepares for an IPO on Nasdaq.

Perfect Moment chief executive, Negin Yeganegy, said: “We have ambitious plans for Perfect Moment and this financing reflects the confidence in our vision. As a brand, Perfect Moment has gained global recognition for our high quality, distinctly fashionable apparel which we plan to build upon to create a recognisable, highly regarded international fashion icon. I am confident the steps we are taking now will position us well for years to come.”

Perfect Moment is sold at retailers including Net-a-Porter, Mythersea and Farfetch, and is best known for its brightly coloured, striped and star-print skiwear. Over the past few years, it has built a celebrity following, with stars Reese Witherspoon, Rita Ora, Michael Fassbender, Bradley Cooper and Emma Roberts sporting the brand.

Max Gottschalk, Perfect Moment chairman, added: “Closing this financing is an exciting step for Perfect Moment as it will allow the Company to execute on various attractive growth opportunities. We plan to pursue a Nasdaq IPO later this year which will greatly enhance our access to capital as well as broaden our shareholder base.”

The sportswear brand said that Laidlaw Venture Partners brokered the transaction, while Montrose Capital Partners was the sponsor for the deal. Adding that the listing of Perfect Moment’s stock on Nasdaq in connection with an IPO remains subject to the approval of Nasdaq and the satisfaction of all applicable listing and regulatory requirements.

Perfect Moment was founded in Chamonix, France, in 1979 by Thierry Donard, a French racer turned filmmaker. It is currently headquartered in London.