Investcorp acquires Georg Jensen

Scandinavia’s leading luxury retailer Georg Jensen has been sold to alternative investment house, Investcorp for 140 million Dollars by private equity group Axcel Capital Partners. Following the acquisition, Investcorp has teamed up with David Chu,

the luxury brand entrepreneur and founder of Nautica, who will join the company on closing as chief creative director and co-chairman of the Board, with the aim to “cultivate” the Danish silver brand into “a leading global luxury brand”.

Also joining the Board on closing will be Guy Leymarie, former chief executive officer of DeBeers Diamond Jewellers, Cartier International and Dunhill.

Investcorp, which previously owned luxury brands including Gucci and Tiffany, hopes that the high profile names in the luxury market will help push the jewellery and watch brand’s global growth, especially in growing markets such as Asia.

Commenting on the acquisition and appointments, Hazem Ben-Gacem, Head of Investcorp’s European corporate investments activities, said: “We are pleased to be entrusted with taking Scandinavia’s preeminent luxury brand to a global level. We believe that in partnership with the current solid management team, led by Ulrik Garde Due, and luxury retail legend David Chu, Georg Jensen stands to become one of the leading hard luxury brands in the 21st century.”

Ulrik Garde Due, CEO of Georg Jensen since 2007, added: “Georg Jensen and Axcel made a great team during our repositioning process. It has been necessary to take a long-term view in the development of the company and we are delighted to be working with Investcorp, which has an unrivalled experience of building luxury brands.

“Investcorp’s commitment to developing the brand will ensure we are able to further strengthen Georg Jensen’s position globally as the leading Scandinavian luxury lifestyle brand.”

David Chu, the new co-Chairman of the Board and Chief Creative Director, commented: “I am proud to team up with such an outstanding management team to together lead Georg Jensen forward. It has a world famous design heritage and a global reputation for outstanding luxury product and quality that we will take to the next level."

Founded by the eponymous Danish designer in 1904, Georg Jensen designs, manufactures and distributes jewellery, watches, fine silverware and high-end homeware. Today the business has 94 fully-owned stores and three franchised stores across the world. In 2011, the Company had sales of approximately 160 million Dollars.