Home / Knowledge / News / Fashion / OpenGate buys NICOLE FARHI from French Connection
OpenGate buys NICOLE FARHI from French Connection
15
Mar '10
OpenGate Capital, a global private equity firm, will acquire the highly respected fashion label NICOLE FARHI from French Connection Group PLC in a transaction expected to close within the next 90 days. The deal is the third major equity investment by OpenGate in the past 12 months and further extends the firm's mission of acquiring high potential divisions and subsidiaries from leading global enterprises.

Under the terms of the agreement, the design house will continue to be based in London with offices and showrooms in Milan. OpenGate Capital founder and CEO Andrew Nikou will be named the chairman of NICOLE FARHI.

“Nicole Farhi is an iconic designer and her elegant and sophisticated fashion sense has been a runway landmark since the brand's inception,” Nikou said. “We are excited to be working with Nicole and her management team to expand the company's retail network in cities such as Paris, Hong Kong, Tokyo and New York, while continuing to build the wholesale distribution network internationally.”

As part of the transaction, OpenGate will acquire all inventory, retail locations, and intellectual property under the NICOLE FARHI label. Nicole Farhi, who founded the label in 1983, will continue in her role as Creative Director and Niki Scordi, currently Managing Director, will be promoted to CEO.

“This is a wonderful opportunity for the NICOLE FARHI brand,” Farhi said. “French Connection has played an integral role in our success over the years and I look forward to working closely with our new partners at OpenGate Capital to take the company in an exciting new direction.”

This transaction is part of a larger effort by OpenGate Capital to acquire iconic brands across the fashion, entertainment and media industries. It follows the acquisition of TV Guide Magazine, one of the most popular magazines in the United States with more than 20 million weekly readers; Models1, the leading model and talent agency in Europe; and Fleurus Presse and Junior Hebdo, the youth publications divisions of leading French media company Groupe Le Monde.

“OpenGate Capital will be working to significantly improve upon NICOLE FARHI's strong business fundamentals in order to achieve sustainable profitability as early as the first year of ownership,” said Robert Lezec, partner, OpenGate Capital. “We also plan to further develop the online distribution channel and will pursue selected licensing opportunities to fully leverage the brand's far-reaching design and creative resources.”

Born in Nice and trained in fashion design, Farhi began her career in Paris as a freelance designer, before moving to London in the early 1970's to work with Stephen Marks on the French Connection brand. In 1983 Marks launched the NICOLE FARHI brand, giving the designer an opportunity to create a collection of clothes that she herself really wanted to wear. A menswear collection was launched in 1989, followed by the diffusion line for men and women, now called FARHI by Nicole Farhi, in 1996. In September 1994, Farhi opened a flagship store on London's New Bond Street, including the restaurant, Nicole's.


Must ReadView All

AEPC concern over apparel exports fall; envoys meet CEA

Apparel/Garments | On 17th Nov 2017

AEPC concern over apparel exports fall; envoys meet CEA

India’s Apparel Export Promotion Council (AEPC) has expressed concern ...

Moody's improves India's rating

Textiles | On 17th Nov 2017

Moody's improves India's rating

Moody's Investors Service has upgraded the Indian Government’s local...

Sweden in talks with Birlas for smart textiles project

Textiles | On 17th Nov 2017

Sweden in talks with Birlas for smart textiles project

Sweden is seeking a collaborative project with the Aditya Birla Group ...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search