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Exited companies – Jil Sander Group
| Acquired |
February 2006 |
| Description |
Jil Sander is a luxury fashion house, which designs, manufactures (through sub-contractors) and distributes luxury women's and men's ready-to-wear, accessories, footwear and fragrance. Present in the world’s most important luxury-goods markets through directly operated stores and an extensive network of wholesale and franchise accounts in Asia, Europe and North America. |
| CCP value added |
Since its acquisition by Change Capital Partners in April 2006, management of Jil Sander have completed a successful turnaround and created a solid platform for further growth. Operating EBITDA has been transformed from negative €12.9m in 2005 to positive €6.1m in 2007, and during this time, the business has strengthened its distribution network in USA, Europe and Japan, extended its product range, developed a strong wholesale operation and created a strong licensing position in fragrances, eyewear and lingerie/beachwear. Following new store openings in Japan, Germany and Italy and the relocation of stores in London, Paris and New York to optimise profitability, Jil Sander now has 61 stores in aggregate comprising 26 directly operated stores as well as an extensive franchise network encompassing Asia, Europe and North America. |
| Exit |
In October 2008, Change Capital Partners sold its stake to Onward Holdings Co., Ltd., the Tokyo-listed apparel group, and its European subsidiary, GIBO’ Co. S.p.A., for an equity value of €167 million. |
| Press |
1st September 2008 |
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