PARIS — Mode et Finance 2, the French investment fund managed by state-owned bank Bpifrance, has taken a minority stake in men’s jewelry brand Le Gramme for an undisclosed sum.
Launched in 2012 by Adrien Messié and Erwan Le Louër, Le Gramme is known for minimalist bracelets and rings named after their weight. The investment will allow it to bolster its product offering and accelerate its development in France and overseas, Bpifrance said.
The brand, which launched e-commerce in June, is carried in 80 points of sale including Colette, Le Bon Marché, White Bird and Montaigne Market in Paris; online retailer Mr Porter; Barneys New York, Neiman Marcus, Maxfield and Opening Ceremony in the United States; Dover Street Market in London and Tokyo; Lane Crawford in Hong Kong, and Boon the Shop in South Korea.
Mode et Finance 2 specializes in long-term investments in small and medium-size companies in the fashion and luxury sectors that are profitable, generate revenues of at least 500,000 euros, or $651,100 at current exchange, and show strong potential for international growth.
Brands that have benefited from the fund’s financial investment in the past include Officine Générale, Adieu, Lemaire and Roseanna. Le Gramme is its first investment in the jewelry segment.
Bpifrance and the French Fashion Institute announced earlier this year they were teaming up to support French emerging creative brands. The bank helps the IFM Labels program to select and monitor young brands with high potential and shares its expertise in financing.