PARIS — Change Capital Partners has sold a majority stake in French fashion brand Paule Ka to businessman Xavier Marie, and the brand will be parting ways with its chief executive officer and creative director, WWD has learned.
Marie, founder and former ceo of furniture and home decor company Maisons du Monde, has acquired an 80 percent stake in Paule Ka, with Change Capital retaining the remaining 20 percent, a spokeswoman for the label said on Wednesday.
The private equity firm in 2011 bought a 70 percent stake in the label, subsequently upping its participation to 100 percent in 2015. Marie sold Maisons du Monde to Apax Partners and LBO France in 2008. It was subsequently bought by Bain Capital in 2013.
Catherine Vautrin, chairman and ceo of the house since February 2015, is leaving to explore new opportunities in Italy. Creative director Alithia Spuri-Zampetti will also be leaving the company after a two-year collaboration, Paule Ka said in a statement, confirming a report in WWD on Aug. 2.
Formerly the head designer in charge of women’s ready-to-wear collections at Lanvin, she was the first designer at Paule Ka since the departure in 2014 of founder and creative director Serge Cajfinger. Spuri-Zampetti also has stints at Valentino and Bottega Veneta under her belt.
Paule Ka will not be presenting a spring collection during Paris Fashion Week. Instead, a capsule collection designed by its in-house studio will be shown to buyers at its showroom between Sept. 27 and Oct. 3, complementing its resort line, the last designed by Spuri-Zampetti.
The label has targeted expansion in the United States, Middle East and Asia in recent years. “We have a global objective of doubling in size in the next five years,” Vautrin told WWD last year, adding that revenues totaled 45 million euros in 2015.
Paule Ka has retail sales worth 63 million euros worldwide and is established in 37 countries through 320 points of sale, with 90 stand-alone stores and concessions and an online store, the company said.