Acne Studios switches minority shareholders
Following a opening of Acne Studios' first store in Beijing, the Swedish label co-founded by Jonny Johansson in 1996 is altering its capital structure. After talking to with Goldman Sachs Worldwide, the company has stated goodbye to 3 of their shareholders, investment funds ? resund, Creades and Pan Capital. The trio continues to be substituted with two new shareholders: American investment fund IDG Capital and Hong Kong-based apparel conglomerate I.T Group. The 2 entities now control 41% from the company's capital together,Wireless Access Point
30.1% being held by IDG and also the remaining 10.9% by I.T. Acne's executive chairman Mikael Schiller and inventive director Jonny Johansson remain the business's majority shareholders.
Before the changes, ? resund held 8.5% of Acne Studios' capital and it has offered its shares for 369 million Swedish kronor, or 36 million euros. Creades controlled 8.6% of the organization and offered its shares for 372 million Swedish kronor (36.4 million euros). Although details concerning Pan Capital's transaction haven't been released, Acne Studios confirmed in an announcement that Mikael Schiller and Jonny Johansson also have reduced the amount of their shares.
I.T Group, that has been dealing with Acne Studios for 15 years, getting particularly aided using the brand's expansion in Asia, controls a remarkable distribution network composed of 800 branded stores all over the world, 700 which have been in China and Hong Kong. The organization has additionally took part in joint ventures with brands for example Zadig & Voltaire in Hong Kong and Macau, with Galeries Lafayette in China, and holds shares in an array of labels together with a Bathing Ape, AAPE, Fingercroxx and Venilla Suite.
Founded in 1992, IDG Capital focuses on investments in technology, media and telecommunications, and already holds shares in Farfetch, Moncler and Baidu. "It is the dream scenario for all of us. Jonny and that i are excited to participate forces with new partners that we understand well and who'll bring further expertise to let us continue our adventure. [...] By cooperating, we'll make Acne Studios much more effective," stated Mikael Schiller. The company, that is wishing to kick-begin a new phase in the growth with the aid of its two new shareholders, reports annual revenues of 200 million euros and operates roughly 30 stores all over the world, plus some 20 mall concessions. In 2018, the organization welcomed Edouard Schneider since it's new global communications director and mind of their French division. Acne Studios will show its next womenswear runway display on 20 The month of january during Paris' High Fashion Week.