PARIS — Laurent Dassault, grandson of the French industrialist Serge Dassault, has issued a debenture loan to French children’s wear firm CdeC.
“I am delighted to support the development of the brand in France and internationally,” stated Dassault, who made the transaction through his holding company Laurent Dassault Rond Pont (LDRP).
Dassault’s investment can either be reimbursed at a later date or in the long-term be transformed into around a 10 percent stake in the company.
Cordelia de Castellane and her cousin Ségolène Gallienne, daughter of Belgian financier Albert Frere, founded CdeC in 2006. Targeting a wide age range — six months to 16 years old — the clothing label also offers accessories and launched a scent last year.
The company said sales for 2011 would be around 3.5 million euros, or $4.7 million at current exchange, with revenues projected to reach 5 million euros, or $6.8 million, in 2012.
The CdeC brand is wholesaled to around 150 doors internationally, of which 40 are in the United States, with six freestanding stores in Europe, including Paris, London and Brussels.
The brand is looking to open another 10 stores in France and two more in London, with a long-term ambition to open a freestanding store in the United States.