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Eurazeo makes minority investment in Herschel brand

11
Nov '19

Pic: Herschel

Eurazeo has announced signing a minority investment in Herschel, a design-driven global lifestyle brand. Headquartered in Vancouver, Canada, Herschel is known for transforming the classic backpack and offering other timeless accessory products which are sold in over 90 countries. Eurazeo, headquartered in France, is a leading global investment company.

Eurazeo Brands, the division of Eurazeo focused on differentiated consumer brands with global growth potential, is investing $60 million alongside a consortium comprised of Alliance Consumer Growth (ACG), a leading consumer-focused growth equity firm, and HOOPP Capital Partners (HOOPP), the private capital arm of the Healthcare of Ontario Pension Plan, according to a press release by the company.

The investment company aims to invest a total of $800 million in high potential North American and European consumer companies across a wide range of verticals including beauty, fashion, home, wellness, leisure, and food. The firm will serve as a value-added partner that brings proven brand-building expertise and global capabilities. ACG will provide deep consumer products experience, and along with HOOPP, will support the strong management team in its efforts to develop new product categories, grow the company, increase brand awareness and extend its global footprint as it transforms into a culturally relevant lifestyle brand.

“Herschel has established a strong, authentic brand that has enabled them to design, market, and sell timeless and high-quality accessories, addressing the needs of today’s modern, multi-tasking consumer. Herschel reimagined the backpack and in doing so changed the category forever, but that was just the beginning. We are thrilled to partner with Herschel management, ACG, and HOOPP to leverage the company’s powerful customer engagement and accelerate growth across categories, channels and geographies,” Adrianne Shapira, managing director of Eurazeo Brands said.

“Eurazeo, ACG, and HOOPP are ideal partners for Herschel, a global iconic brand that transcends cultures, ages, genders, and demographics. We’re looking forward to expanding our reach with our timeless products that are part of global culture and synonymous with travel, experience and discovery,” Lyndon Cormack, Herschel co-founder said.

“We are delighted to add Herschel to Eurazeo Brands’ portfolio of differentiated consumer and retail brands with global growth potential, including NEST Fragrances, Pat McGrath Labs, Bandier, and Q Mixers. Herschel is a leader in backpacks and travel accessories, and represents a large, profitable addition to our portfolio. This is our first investment in a Canadian brand and we are confident that the company will achieve continued success,” Jill Granoff, CEO of Eurazeo Brands said.

Fibre2Fashion News Desk (GK)

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