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BACKGROUND

Jil Sander, is an iconic and globally renowned luxury fashion brand.  The company was founded in Germany in 1985 by Ms Jil Sander and is now headquartered in Milan. The company is appreciated for its differentiated design often referred to as ‘timeless simplicity’.

CCP, together with the incumbent management team, acquired Jil Sander from Prada in 2006. At the time of acquisition, Jil Sander was heavily loss making and in need of a turnaround.

WHY WE LIKED JIL SANDER

WHAT WE SAW DIFFERENTLY

We believed that the underlying value of the Jil Sander brand was not reflected in the bottom line performance of the company at the time of the acquisition.  Based on our experience in retail and fashion we saw a clear route back to profitability based on cost-based measures and implementation of best in class retail practices. We also believed in the existing management team that had started the turnaround and the ability of new designer Raf Simons to bring the brand back to its past successes and beyond.

HOW WE HELPED

We supported the management team to complete the turnaround plan with a rigorous and disciplined approach to costs and processes while ensuring we created a platform for future growth.  Specific areas we worked on with management included:

THE RESULT

In the two and a half years we were investors, Jil Sander was transformed from heavily loss-making back to profitability.  Raf Simons successfully infused new life into the brand and returned Jil Sander to the forefront of fashion.  Jil Sander was subsequently sold on to Onward Holdings, a Japanese listed conglomerate in 2008.