Sézane has made some new, influential friends.
New York private equity firm General Atlantic has taken a 45 percent stake in the hot French contemporary brand founded by Morgane Sézalory, according to sources familiar with the transaction.
General Atlantic picked up its stake in the five-year-old firm from Summit Partners as well as other investors. Gabriel Caillaux and Melis Kahya, who work in the investment company’s Europe, Middle East and Africa business, both joined the brand’s board.
Sézane sells breezy and feminine looks including dresses, jeans and jackets as well as shoes and handbags.
The company was launched online and added a shop in 2015, inspired by her home and called L’Appartement. Last year, the Paris location expanded to include a bookshop as well as a space for returns and pickups called La Conciergerie. An apartment-style shop was added last September in New York.
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The brand has only two permanent stores, but a solid online business is said to be growing at a rate of roughly 75 percent and expanding profitably.
Sézane is seen as having a diverse appeal, and although it is still relatively small, it has items ranging from tops and bottoms to home and beauty.
While there have been plenty of transactions around the fashion industry, particularly in beauty and technology, but this marks a rare connection between investor and apparel brand in fashion.
“It might be that there’s more investor appetite at these lower absolute valuations,” the source said. “Investors are probably more interested in smaller up in coming brands that they perceive are taking market share quickly.”
General Atlantic also has stakes in Zimmermann, Authentic Brands Group, Grupo Axo, Tory Burch and others.
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