A luxury fashion retailer that was the first to stock debut collections from the late Alexander McQueen, as well as Helmut Lang and Hussein Chalayan, has been acquired by a private equity firm.
Manchester-headquartered Hervia has been snapped up by Parabellum Investments for an undisclosed sum.
The private equity firm had previously been focused on companies in the business-to-business sector and it its first entry into the luxury goods market.
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Hervia has plans to secure new partnerships with emerging designers in the 海角视频, France, and Italy as well as exploring new segments such as childrenswear and investing in its website.
The company has its flagship store, Hervia Bazaar, in Manchester. Founder Oscar Pinto-Hervia will retain a stake in the group and will remain chief executive.
Alongside Hervia’s Manchester store and its online platform, the deal also includes the operation of the Adidas Y-3 flagship store in Mayfair, London, which sells the largest selection of Y-3 products to the 海角视频 market.
Mr Pinto-Hervia said: "It’s an exciting time for Hervia as we look to onboard fresh, new brands and open additional stores. I was struck by Rami’s enthusiasm and his growth plans for Hervia align with our ambitious vision for the company.
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"His strong track record of leading and managing companies ensures he’s a great fit to take us forward into the next phase of expansion."
Rami Cassis, founder and CEO of Parabellum Investments, added: "Hervia has a rich legacy as a brand, strong foundations as a business and is perfectly positioned to benefit from the future growth projections of the 海角视频 fashion market.
"As a direct-to-consumer business, it marks a significant addition to Parabellum Investments’ portfolio, which has previously concentrated on the business-to-business sector.
"I look forward to investing in the business from top to bottom, including improving the customer experience, entering new segments of the market, and adding to an already excellent team.
"Oscar Pinto-Hervia has created an amazing business and has a natural eye for fledgling industry talent, and he’ll remain a core part of Hervia’s DNA.
"His vision around sourcing and encouraging young British designers will help us continue discovering the best emerging designers and up-and-coming brands to partner with."