|
|
Canada : Berkshire ties up with women's apparel retailer Aritzia
December 20, 2005 |  |
Aritzia is a vertically integrated women's apparel retailer based out of Vancouver, has announced a partnership with Boston-based private equity firm Berkshire Partners LLC. Berkshire's significant investment will enable Aritzia to continue its expansion strategy both in the Canadian market and abroad.
Though the value of the transaction is undisclosed, Aritzia released that the Company will generate over $100 million in sales in 2006 following several years of consistent double-digit growth.
All Support (Head) Office operations will remain in Vancouver under the successful leadership of Brian Hill, CEO, and the existing management team.
Berkshire Partners and Brian Hill will share control of the Board of Directors and will look to recruit two to four additional directors with strong backgrounds in fashion, US and Canadian real estate and corporate strategy.
"Berkshire Partners has extensive retail and consumer expertise and will provide valuable financial and strategic guidance as to expand into new markets. Management team knows how to run the Aritzia business; Berkshire Partners will help take us to the next level," notes Brian Hill.
"The opportunities resulting from this partnership, and the growth it will generate, will extend to our existing and new employees, customers, and business partners in the retail industry here in Canada and abroad."
Founded in 1984, Aritzia is a vertical retailer whose steady expansion over the last 20 years has established its position as a recognized leader in the fashion retail industry. Aritzia has 18 stores in key urban centers across Canada, with a focus on fashion, music and design that results in boutique retail environments that resonate with young, style-forward women.
| | |
|
|
|
|