A.P.C.: Audacia fund exits capital
Audacia, the fund led by Charles Beigbeider, exited the capital of French ready-to-wear label A.P.C. in March 2019 after seven years, the fund announced on 17 July. The fund first took a 7% stake in the label in 2012 with the aim of developing the brand.
The collaboration was first intended to last five years, but then was extended until spring 2019 while the stake was upped to 14%.
The fund has now sold its shares back to the majority shareholder of the label, its founder, Jean Touitou. The label, which underlines its independence, has not announced the entry of a new investor and said that it is financing the buyback with the help of a “classic bank loan”. The brand recorded €67 million in revenue in 2018, according to Audacia.
A.P.C. opened its 13th Parisian store (of a network of some 80 globally) at 171 boulevard Saint-Germain, on the left bank, replacing a Vanessa Seward store. The company had launched the Vanessa Seward label with its namesake designer before withdrawing from the collaboration last year.
Audacia, a specialist in giving a helping hand to growing small and medium-size companies, has taken stakes in numerous other brands in recent years, including Balibaris, Cuisse de Grenouille, Jérôme Dreyfus, Olympia Le Tan and Chatelles.
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