Peninsula fund, Percassi group buy 40% stake in MC2 Saint Barth label
Apparel and beachwear label MC2 Saint Barth has sold a 40% stake to international investment fund Peninsula, which is based in the UK and opened an office in Milan two years ago, and to the Percassi group, an Italian retail distribution specialist.
MC2 Saint Barth was founded in 1994 by Lanikai (a company based in Bergamo, northern Italy, like the Percassi group), and is the brainchild of Max Ferrari and Raffaele Noris, two young businessmen experienced in the apparel sector. In a press release, Lanikai indicated that Ferrari and Norris will remain in charge, to ensure continuity. Initially specialising in beachwear, MC2 Saint Barth has gradually expanded its range to include men’s, women's and children’s fashion, and launched its first winter collections in 2018. Recycled and recyclable materials are currently used to produce 85% of the label’s garments.
The objective of the operation is to accelerate the global growth of MC2 Saint Barth, by broadening its assortment and opening a number of new stores worldwide, tapping the Percassi group's expertise, with a special focus on the USA, the Middle East and the Far East.
A few months ago, Ferrari told FashionNetwork.com that 50% of the label's revenue is generated by menswear, 30% by womenswear and 20% by childrenswear. MC2 Saint Barth currently operates 53 monobrand stores, some of them in prestigious locations like Paris, Portofino and Miami. The label is available at top-notch department stores like Rinascente, Selfridges, Galeries Lafayette and El Corte Inglés, and operates its own e-shop directly, which generates 15% of total revenue. The company estimates that the latter will reach €80 million by end 2022, equivalent to a 45% increase over 2021.
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