LONDON — Temperley, the London-based label known for its feminine dresses and intricate embroidery, is the latest fashion brand to consider selling a stake to a private equity firm to finance expansion.
“Private equity is certainly one of the potential sources of funds,” said Lars von Bennigsen, chief executive officer of Temperley London. “The business is growing very fast in all territories, and any investment would be mainly used to speed up our international rollout.” Temperley has stores in London, New York and Los Angeles, with showrooms in London and New York.
Von Bennigsen said the company plans to sell a minority stake of 10 to 15 percent. The company projects retail sales of $28.5 million for its current fiscal year, up from $16.2 million for the fiscal year ended in April 2006. Although von Bennigsen declined to name the firms with which the company is speaking, he said he expects to complete a deal in the next six months.
“If we decide to take on a strategic partner, private equity or not, we would probably do so before the year is out,” he said. “We have been approached from many different angles for a while and are more concerned with finding the right fit.”