Casablanca sees buyout and restructure as it positions for further growth
Charaf Tajer’s Casablanca Clothing Ltd business has been acquired by a newly-established company — Casablanca Paris Ltd — in a restructuring process as it sets itself up for further expansion.
A spokesperson told Fashionnetwork.com that it’s about positioning the fast-growing business for the next stage of its growth and not a ‘fire sale’ with the firm having been acquired as a going concern.
The ‘new’ and unnamed owner was already the majority investor in the business but has chosen to stay out of the limelight. The financial value of the deal wasn’t disclosed.
The spokesperson also said that all personnel are remaining in place.
French-Moroccan Tajer is Paris-based but the company is headquartered in London, although the new name link to Paris does make sense given its identification as a French-created brand.
He founded the brand as menswear-only in 2018 and added womenswear two years later. He’s seen sales leaping on an annual basis since the start.
We’re told that the “recapitalisation restructure that will further strengthen and empower the successful incumbent creative team with new investment to continue the brand’s eye-catching growth”.
In a joint statement, senior management of both companies welcomed the announcement.
Casablanca Clothing Ltd Company Director David JW Bailey said:“Our committed and talented team are really looking forward to working in the new company. The new investment will enable them to build on the great success they’ve achieved to date and to accelerate growth even faster into 2024 and beyond. Casablanca Paris will ensure the continuing global growth is fully and properly supported. We’re all looking forward to the next chapter in the great Casablanca story.”
And Casablanca Paris Ltd Director Kevin Gate added: “This is all about supporting the company and the brand, and most of all, the immensely talented and creative team, which clearly has great strength in depth. We plan to invest heavily to continue their amazing achievements as they grow the Casablanca feeling around the world to our dedicated army of fans. We’ll continue collaborating with all our industry stakeholders and are very excited about our new investment.”
Casablanca is known for its shirts, among other items, and recently also launched into that modern must-have category, sneakers.
Charaf Tajer has made an impact with the label, helped by his high profile that also saw the self-taught creative director and designer being a 2020 finalist for the LVMH Prize.
His track record with streetwear brand Pigalle and as a consultant for Supreme also ensured that his label would get noticed.
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