London - French fashion brand Zadig & Voltaire is seeking out a new minority investor to oversee its future growth, as it aims to double its sales.
Thierry Gillier, the founder and chairman of the contemporary fashion label, revealed he and the brand's current 30 percent shareholder TA Associates have asked Rothschild & Cie to seek out a new investor, according to a report from WWD. The funding from the new minority shareholder would then be used to support Zadig & Voltaire growth, as Gillier added he aims to double its annual sales volume to 500 million euros in the next 4 to 5 years.
"It’s not just about needing capital; it’s about needing strategic support," said Gillier via Skype to WWD. "We’re a real new brand and there’s not so many of them outside of what you have in the luxury market. We want to have the right people to achieve the next step, someone who shares our vision. The key is that the next partner needs to be a good strategic fit."
He declined to share the exact size of the investment he is seeking but noted that the brand is not thinking of an IPO at the moment despite industry talk. Instead, Gillier is focusing on finding the right partner which will offer the tool needed to ensure Zadig & Voltaire continues growing and understands the brand's direction. Gillier also stressed that Zadig & Voltaire is not interested in having a multi-brand conglomerate, like LVMH, as a partner.
"We don’t want a multibrand partner," Gillier said. "We know we’ll have a lot of interest." A deal is expected to be complete by the end of this year.
Photos: Zadig & Voltaire, SS18