PARIS — Pelican has acquired a 21 percent stake in Canadian group Coalision Inc., which owns apparel and outerwear brands Orage, Paradox and Lolë. The fund is headed by Coalision Inc.’s chief executive officer Bernard Mariette.
“I have no other short term plans at present, but we will be looking in the medium term at other sports brands,” Mariette said.
Pelican shareholders include Olaf Guerrand-Hermès, a member of the Hermès family, who will now take on an advisory role on the board of directors at Coalision.
“Private equity group Kilmer Capital owns the majority of Coalision, with 67 percent of shares, while 12 percent is owned by the founders,” said Mariette.
In 2010 Coalision’s sales were 48 million euros, or $63 million at average exchange rates.
“There is a strong dynamic and growth with Lolë,” said Mariette. The company plans to open a Lolë store in Biarritz on July 14.
“It will be a showtique,” said Mariette, explaining that it will be part showroom for buyers and part boutique for the consumer.
Coalision sells to about 2,500 doors in Canada, the United States, Europe and Asia.