French private equity firm Eurazeo, which has major holdings in Moncler and Farfetch, is looking to invest in more consumer labels, after launching the Eurazeo Brands division, dedicated to “expanding the business of European and US brands with international growth potential,” the firm said in a press release.
The new division will be endowed with an investment purse between $600 and $800 million for the next 3 to 5 years, and will target all kinds of consumer markets, including beauty, apparel, accessories, homeware, jewellery, leisure, health and the food sector.
Eurazeo is already active in the fashion industry, holding stakes in Moncler, Desigual, Farfetch and Vestiaire Collective. Eurazeo Brands is the firm’s fifth division and will allow it to muscle up its involvement in fashion.
Jill Granoff will lead the new division. An expert in the fashion and beauty industries, Granoff will be based in New York and will leverage the sector expertise of her team of entrepreneurs, consultants and other partners.
Granoff was the CEO of Californian sportswear label Vince, and formerly worked for US group Kellwood Company and for Kenneth Cole Productions. Among her previous roles, those at Estée Lauder, Victoria’s Secret and Liz Claiborne, where she was in charge of Juicy Couture, Lucky Brand Jeans and Kate Spade.
“The creation of Eurazeo Brands is another major step forward in our investment strategy in the consumer brands world, which we have been engaged in for several years, identifying the most attractive international investment opportunities,” said General Manager of Eurazeo, Virginie Morgon.
The idea is to target companies with “differentiating concepts”, to be supported “in realising their full potential across different categories, distribution channels and geographical areas,” via equity investments between $10 million and $600 million. Operations above the $100 million threshold will be carried out jointly with Eurazeo Capital.