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OpenGate Capital acquires Nicole Farhi fashion brand

Private equity firm OpenGate Capital is acquiring fashion label Nicole Farhi from French Connection Group in a transaction expected to close within the next 90 days.

The deal is the third major equity investment by OpenGate in the past 12 months.

Under the terms of the agreement, the design house will continue to be based in London with offices and showrooms in Milan.

OpenGate Capital founder and chief executive Andrew Nikou will be named the chairman of Nicole Farhi.

“Nicole Farhi is an iconic designer and her elegant and sophisticated fashion sense has been a runway landmark since the brand’s inception,” Nikou says. “We are excited to be working with Nicole and her management team to expand the company’s retail network in cities such as Paris, Hong Kong, Tokyo and New York, while continuing to build the wholesale distribution network internationally.”

As part of the transaction, OpenGate will acquire all inventory, retail locations, and intellectual property under the Nicole Farhi label.

Nicole Farhi (pictured), who founded the label in 1983, will continue in her role as creative director and Niki Scordi, currently managing director, will be promoted to chief executive.

“This is a wonderful opportunity for the Nicole Farhi brand,” Farhi says. “French Connection has played an integral role in our success over the years and I look forward to working closely with our new partners at OpenGate Capital to take the company in an exciting new direction.”

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