Luxury Brand Investor to Further Grow Renowned Global Fashion Brand
Los Angeles, CA and Paris, France – January 12, 2012 – OpenGate Capital, a global private investment firm, announced that Kelso Place Asset Management, the UK-based special situations investor, has acquired a significant stake in its iconic fashion label NICOLE FARHI.
Under the terms of the agreement, Kelso Place will use its strong track record in the luxury brand space with brands such as Smythson and Anya Hindmarch, to provide financial, strategic and hands-on, operational support to ensure the further growth of the business.
OpenGate has been making operational enhancements to NICOLE FARHI since acquiring the brand in March of 2010 from French Connection plc. “With the luxury brand expertise of Kelso Place on board and our phase one operational refinements accomplished, NICOLE FARHI is now poised to grow and flourish,” said OpenGate Capital founder and CEO Andrew Nikou.
Nicole Farhi, who founded the label in 1983, and the global brand’s management team, led by Niki Scordi, will remain in their positions subsequent to the investment.
About NICOLE FARHI
NICOLE FARHI is a British fashion lifestyle brand launched in 1982, with collections in womenswear, menswear, homeware and eyewear. The unique blend of soft tailoring with luxurious separates and accessories has made the NICOLE FARHI name synonymous with quality. The collections are exhibited in London, New York, Paris and Milan.
For more information: www.nicolefarhi.com
About Kelso Place Asset Management
Kelso Place Asset Management was founded in 2000 and is currently investing a £100 million Special Situations Fund. The firm has raised four funds to date and has made a total of twelve investments, including in Anya Hindmarch and Smythson. Smythson was acquired by Kelso Place Asset Management in 2005 and sold in December 2009. Under Kelso Place’s ownership, Smythson grew significantly, increasing turnover by 59%, expanding retail stores to 15, growing its e-commerce business by 106% and further strengthening its business infrastructure.
For more information: www.kelsoplace.com