Zadig & Voltaire, a French brand in the modern luxury ready-to-wear market, is to receive a strategic growth investment from Peninsula, a European Private Equity investment management firm.Zadig & Voltaire will remain majority-owned by its founder Thierry Gillier, while TA Associates, the current minority partner, will be exiting its investment. Financial terms of the transaction were not disclosed.
Known for its chic and rock and roll inspiration, Zadig & Voltaire, the modern luxury iconic brand, has grown consistently since its founding in 1995. Today, the company operates approximately 400 boutiques and shop-in-shops in more than 30 markets around the world, generating retail sales in excess of EUR350 million. Following the transaction, founder and controlling shareholder Thierry Gillier will remain Chairman of the company with the support of a new CEO, Remy Baume, who is also joining as a shareholder.
Thierry Gillier, Chairman of Zadig & Voltaire, says: “We are delighted to welcome Peninsula as our new partner. Their long-term investment horizon and retail expertise are fully aligned with Zadig & Voltaire’s entrepreneurial values and history. Our company continues to benefit from an exceptional development potential, particularly online, and in the US and Asia. We look forward to working with Peninsula to continue the strong growth of Zadig & Voltaire worldwide. I also want to thank TA Associates. With our shared values, this proved to be a successful partnership that helped the company double in size, enter the US market and professionalise the management team.”
Stefano Marsaglia, Co-Founder and Managing Partner at Peninsula, says: “We have closely followed the development of Zadig & Voltaire for a long time, and we are delighted to partner with Thierry Gillier, Cecilia Bonstrom, Remy Baume and the entire management team. Thierry’s vision has driven Zadig & Voltaire from its creation to becoming one of the leading French modern luxury brands, and we share his ambitions. We look forward to contributing to the future success of Zadig & Voltaire, and to leverage our retail expertise and global network to help the company achieve its full potential. This transaction marks the entry of Peninsula in France, and we are glad to make this investment in a company with such a unique brand with tremendous growth opportunities worldwide.”
Patrick Sader, Managing Director at TA Associates, says: “We are very pleased to have assisted Zadig & Voltaire with its international development. Our partnership with Thierry Gillier perfectly illustrates TA Associates’ minority investment philosophy. We thank Thierry for his exceptional leadership and commitment, and Artistic Director Cecilia Bonstrom for her unwavering dedication to creativity and quality. We believe that Zadig & Voltaire is a timeless brand with tremendous appeal that is uniquely positioned to benefit from further growth. We wish them continued success.”
Rothschild, KPMG and PWC served as financial advisors, Jeausserand Audouard, White & Case and Latham & Watkins served as legal counsel, and Letus Private Office served as advisors to Zadig & Voltaire shareholders. Deloitte served as financial advisor, and Linklaters and Van Campen Liem served as legal counsel to Peninsula.