Joseph Ribkoff secures fresh funding from Novacap and other investors

Women's fashion brand Joseph Ribkoff has announced a new round of investment from long term investors Novacap and Fonds de Solidarité FTQ, and from new investor DNA Partners.

The company said in a statement that under the leadership of Emmanuel Amzallag, who was appointed as CEO in early 2023, Joseph Ribkoff has embarked on significant advancements, notably investing in cutting-edge technology, and undergoing a strategic repositioning following changes in consumer demand resulting from the Covid-19 pandemic.

Commenting on the development, Dominic Mancini, senior partner at Novacap, stated: "We are enthusiastic about Joseph Ribkoff's growth prospects and ability to leverage its globally renowned brand. This new investment positions Joseph Ribkoff to deliver on its brand vision and propel its global expansion and innovation roadmap."

Echoing this sentiment, Emmanuel Amzallag, added: "Our focus remains steadfast on delivering compelling collections that resonate with our diverse clientele, optimise our operations and better serve our partners globally, while cementing Joseph Ribkoff as a great place to work. This investment will significantly accelerate our efforts towards these goals."

Founded over 65 years ago and headquartered in Montreal, Joseph Ribkoff employs over 500 people across 40 offices and showrooms worldwide. It is present in over 3,400 retailers in over 60 countries. In 2019 the company inaugurated a European manufacturing and distribution facility which complements its existing operations in Quebec where it carries out most of its design, manufacturing, and commercialization activities.