PARIS — In another signal of strong investor interest in affordable fashion chains, private equity fund LBO France said it is in exclusive talks with Roger Zannier to acquire IKKS.
LBO France, which in 2011 took a 20 percent stake in French retailer The Kooples, said it plans to accelerate the chain’s development in Paris, “significantly” strengthen its communications program, and fund international expansion.
According to LBO, the IKKS Group’s 2014 sales topped 300 million euros, or $398.8 million at average exchange rates, with 20 percent of the total generated outside of France.
The company’s three retail banners — IKKS, One Step and I.Code — are present in Benelux, Spain, Germany and the Middle East.
IKKS operates a network of 526 boutiques, counts 218 department store corners and also distributes via wholesale accounts and an online shop. The brand started in kid’s wear and diversified into women’s and men’s fashions.
Vincent Briançon, a partner with LBO France, noted that Zannier would remain with the acquired business, and lauded the “resilience of its business model and the strength of its unique position in the ‘casual chic’ universe.”
LBO France also holds stakes in skin care firm Payot and men’s underwear maker Eminence.