L Catterton is looking to bring some fashion flair from Latin America to the world by supercharging Rapsodia.
The consumer-focused private equity giant made what it described as a “significant growth capital investment” in the 90-door, Buenos Aires-based chain.
L Catterton, along with current shareholder Grupo de Narváez, is looking to accelerate the international expansion of the boho chic brand, which already operates across Argentina, Mexico, Chile, Uruguay, Colombia and Paraguay, selling apparel, lingerie, accessories, footwear and styles for girls and the home. Terms of the still-pending deal were not disclosed.
The company was established in 1999 by Josefina Helguera, Sol Acuña and Francisco de Narváez with a small store in the Las Cañitas neighborhood of Buenos Aires.
Rapsodia will be led by its current management team with “the inspiration of its cofounders.”
Dirk Donath, L Catterton managing partner in Latin America, said, “With a strong brand identity, broad product line, loyal customer following and highly talented management team, Rapsodia is well-positioned to meet the increasing demand for premium retail offerings in Latin American markets and beyond.”
Julio Babecki, an L Catterton partner in Latin America, said Rapsodia was “one of the few apparel brands in Latin America that has been highly successful across multiple markets.”
“Rapsodia’s core foundation of quality, creativity and authenticity has enabled the brand to connect meaningfully with today’s women across the region,” Babecki said.
Grupo de Narváez president Francisco de Narváez noted, “This partnership offers Rapsodia a significant opportunity for further growth, while remaining faithful to its essence and style, marked by professionalism, creativity, inspiration, leadership and teamwork.”
Investors are keen on brands that have established themselves regionally and shown some broad appeal, but still have room to grow.
The company is said to be taking a close look at Victoria Beckham’s fashion company and has also invested in Restoration Hardware, Pepe Jeans and Hackett, El Ganso, Ba&sh, Charles & Keith, the Miami Design District, John Hardy, Frederic Fekkai and others.
Rapsodia would be the fourth investment of the L Catterton Latin America fund and its first deal in Argentina. The fund also has put money into health and fitness company Bodytech, food retailer Grupo St. Marche, and laser hair-removal company Espaçolaser.