By  on August 21, 2008

PARIS — Antik Batik, a French contemporary apparel firm, plans to ramp up its retail expansion thanks to a capital increase.

The founder and owners of the company, Gabrielle Cortese and her husband Marc Rioufol, said Wednesday they have sold a 34.2 percent stake to Frédéric Biousse and Elie Kouby who were, respectively, until last year, the general director and commercial director of fashion chain Comptoir des Cotonniers.

The company said the investors would bring their know-how in terms of strategy, organization, commercial development and retail.

Founded 15 years ago, Antik Batik has made a name for itself with its ethnic-influenced collection and “artisanal” prints. Revenues are projected to reach 15 million euros this year, or about $22 million at current exchange rates.

Antik Batik said the influx of capital would be used to expand its workshops and develop new concept stores. The firm operates three boutiques in Paris and wholesales to about 1,500 doors worldwide.

The brand recently launched a line of boys’ wear, and further product expansions are planned, possibly men’s wear.

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