Rainbowwave becomes 100 percent employee employee-owned

Independent fashion sales and communications agency Rainbowwave, with showrooms in London, New York, and Paris, has announced that it has transitioned to an Employee Ownership Trust (EOT), which will result in the business becoming 100 percent employee-owned.

Founded by Maria Lemos in 2002, Rainbowwave said in a statement that the move reinforces the company’s long-standing commitment to its team, “recognising their vital role in its success to date and future direction”.

The change in ownership structure will ensure that all current and future employees have a stake in the business, which will create “a more inclusive and empowered workplace culture”.

Leadership and day-to-day operations of the business will remain unchanged, with Lemos continuing in her role. Commenting on the move, Lemos said: “Our people have always been at the heart of Rainbowwave’s success, and this transition to employee ownership feels like a natural evolution as I gradually step back over the short to medium term.

“Becoming an Employee Ownership Trust creates a more inclusive environment, giving our team a meaningful stake in the business and the opportunity to share in its ongoing success. I’ll continue to support the company strategically and am excited to see how both the business and our brands grow and thrive under this new structure.”