A.P.C. (Atelier de Production et de Création), the essential and accessible French clothing brand, and L Catterton, a global consumer-focused investment firm, signed binding agreements to form a strategic partnership to advance the brand's international presence.
L Catterton Europe will acquire a controlling interest in A.P.C., that Jean Touitou founded and has been managing since the brand's inception in 1987. As he was joined by Judith Touitou in 1997, they will continue to hold a significant minority of the brand.
Founded in Paris, A.P.C. first gained recognition for its use of high-quality raw materials, minimalist style, and strong cultural universe.
The brand developed its range of women's and men's ready-to-wear clothing and accessories and established itself as a highly appreciated French cult clothing brand, especially known for its iconic leather goods and classic jeans in raw denim.
A.P.C. is an international brand whose revenues account for about 80% from outside of France, and it has a strong distribution footprint in 70 countries, including across Asia and North America.
The brand's growth has occurred across channels, with online sales representing nearly 30% of its revenues, a growing platform of approximately 100 retail stores, and a highly curated wholesale network including multiple specialty and department stores, as well as the most prestigious e-commerce websites.
A.P.C. strongly believes that fashion must be sustainable and mindful of its social impact. Among clothing brands, A.P.C. is a pioneer in its commitment to ESG and has continuously aimed to achieve the best balance between creativity, simplicity, and viability through multiple initiatives focused on improving its environmental footprint while remaining true to its principles and values, including ongoing attention to well-being at work.
The partnership with L Catterton will help A.P.C reach a new level of international recognition and presence while preserving its authenticity.
"We take great pride in having established A.P.C. as a timeless brand that resonates with consumers globally. After 36 years under our stewardship, we are thrilled to partner with L Catterton's team, who share our vision for A.P.C. and bring a real know-how in international brand development. With L Catterton's support and extensive knowledge of the fashion category, we are embarking with great enthusiasm and determination on an exciting and ambitious new chapter of growth,” commented Jean and Judith Touitou, A.P.C. founder and art director.
“We are delighted to partner with A.P.C.'s visionary founders, Jean and Judith, and talented leaders, François-Cyrille and Joël, to support its global growth while preserving its values. We are confident that with our vast global network and extensive experience building fashion brands, A.P.C. will be well positioned to continue revolutionizing the fashion industry,” said Eduardo Velasco, a Partner in L Catterton Europe.
L Catterton's current and past apparel investments include Birkenstock, Etro, Ganni, Savage X Fenty, Ba&sh, Jott, and Gentle Monster, among others.
The transaction is expected to close by the end of the quarter.