Hervia acquired by Parabellum Investments
Luxury fashion retailer Hervia has been acquired by Parabellum Investments, the family office operating as a global private equity firm.
The move marks Parabellum’s first entry into the luxury goods sector and a major diversification in its portfolio, which has previously focused on the B2B sector.
Operating mainly online, Hervia has an extensive customer base across the UK, Europe, North America and Asia, and also operates a flagship store called Hervia Bazaar in Manchester. The retailer sells clothing, jewellery and accessories from designers such as Raf Simons, Maison Margiela, Rick Owens and Yohji Yamamoto.
Under its new ownership, Hervia will forge new partnerships with emerging designers in the UK, France and Italy, and explore new segments such as childrenswear. There are also plans to further strengthen the customer experience through investment in the brand’s online platform.
Rami Cassis, founder and chief executive of Parabellum Investments, said: “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 UK 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.”
Hervia was founded in 1993 by Oscar Pinto-Hervia, who retains a stake in the group and will remain as group chief executive.
Cassis added: “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.”
In addition to the Manchester store and Hervia’s online platform, the deal also includes the operation of the Adidas Y-3 flagship store in London’s Mayfair, which sells the largest selection of Y-3 products to the UK market.
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. 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.”
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