On Tuesday, the investment group specializing in the support and development of European companies HLD took a majority stake in the ready-to-wear brand Ba&sh.
Tuesday, March 8 was the day of the transaction between L. Catterton and HLD for the acquisition of a majority stake in the Ba&sh fashion brand. L Catterton, the world’s largest consumer-focused private equity firm, announced that it had sold its majority stake in Ba&sh to HLD. Terms of the transaction were not disclosed.
Cédric Chateau, partner and chairman of HLD’s investment analysis committee, said : “Ba&sh is a unique fashion house with a strong and singular identity, recognized by its clients worldwide. (…) Ba&sh has great potential for development, both in terms of geographic expansion and the marketing of new product categories. I am delighted that HLD is partnering with Ba&sh’s founders, Barbara, Sharon and Dan, and its CEO, Pierre-Arnaud, to support the brand’s global growth in the years to come” .
The Ba&sh brand, founded in 2003 by Barbara Boccara, Sharon Krief and Dan Arrouas, aims to reflect today’s women and innovate in areas such as digital or CSR. The French brand is sold in no less than 40 countries around the world, advocating a certain quality and premium image.
Since the investment of L.Catterton in 2015 and the recruitment of Pierre-Arnaud Grenade as CEO, the company has undergone a significant transformation. In the world of ready-to-wear, Ba&sh is a value creator in the category and it’s paying off : over the past seven years, Ba&sh’s revenues have grown sevenfold to reach more than €320 million by 2022. This rapid growth has been enabled by a strategy of global expansion, with more than 55% of sales now generated outside of France. The label has also implemented an omnichannel model with the opening of more than 200 points of sale since 2015 to reach a total of 300 by the beginning of 2022, and the development of its online offering, which now represents nearly 30% of the group’s revenue.
At the same time, Ba&sh has enriched its product range and expanded into accessories, from sneakers to jewelry to leather goods. The brand also relies on data analysis to identify trends and create its collections, is committed to local and sustainable manufacturing, and aims to offer 95% eco-responsible products in its collections by 2023.
Barbara Boccara, Sharon Krief, Dan Arrouas and Pierre-Arnaud Grenade commented : “The four of us are very proud of the quality of the work accomplished and would like to thank L Catterton and all our teams for their unfailing support in this hyper-growth phase of the company. With the support of HLD, we are very excited about an exciting and ambitious new phase for the brand” .
Read also > L.CATTERTON PLANS FUTURE IPO
Featured photo : © Ba&sh
