Danish contemporary fashion label Ganni is set to expand in Europe, the US and Asia after consumer-focused private equity firm L Catterton acquired a 51 percent stake in the fashion brand for an undisclosed amount.
Ganni was founded in 2000 and has become a label loved by influencers and editors for its easy-to-wear style staples. Based in Copenhagen, the label came into its own when chief executive Nicolaj Reffstrup and his wife, Ditte Reffstrup the label’s creative director took control of the brand in 2009 from founder Frans Truelsen.
The brand, which is one of the fastest growing brands in the global apparel space, utilises social media especially Instagram with its #GanniGirls hashtag, and is expected to generate around 45 million dollars in sales in 2017, with revenues forecast to grow by 50 percent in 2018.
Nicolaj Reffstrup, Ganni’s chief executive, said: “Partnering with L Catterton is a hugely exciting opportunity for us to further build on the solid foundations that were laid since 2009. This comes exactly at the right time for Ganni and will drive us forward in the next few years as we’ll get access to the knowledge and network of both L Catterton and LVMH.
“Ganni attracted a lot of interest from various investment firms, but we chose L Catterton as we felt we share the same vision for the brand. We firmly believe that L Catterton will strengthen our business with their unparalleled expertise in brand building and their deep understanding of how a global fashion brand operates.”
With investment from L Catterton, which is backed by luxury conglomerate LVMH, the Danish brand is expected to expand in Europe, the United States and Asia, and will expand upon its current 21-store portfolio across Denmark, Sweden and Norway. In addition, it is also reportedly set to open offices in London and New York, to sit alongside its headquarters in Copenhagen.
Eduardo Velasco, partner of L Catterton, added: “We are thrilled to partner with Ganni and its outstanding management team. With its distinctive fashion style and its sound digital strategy, Ganni is ideally positioned to continue its impressive international growth story.”
L Catterton has previously investing in a number of contemporary fashion brands including Sandro, Maje, and Claudie Pierlot, ba&sh, Pepe Jeans, Gant, Charles and Keith, Gentle Monster, Rhone and Giuseppe Zanotti.
Images: via Ganni website