New York-based private equity house General Atlantic has taken a stake in French online fashion brand Sézane, which last week revealed its plans to open a permanent store in London.
Sézane was founded in 2013 by entrepreneur Morgane Sézalory and General Atlantic is believed to have picked up its 45% stake from Summit Partners and other investors. Two of General Atlantic’s executives Gabriel Caillaux and Melis Kahya have taken seats on the fashion brand’s board.
General Atlantic has a diverse portfolio of investments including some other fashion interests including stakes in Tory Burch, Zimmerman and Grupo Axo, which owns and operates Mexico’s leading off-price fashion retailer Promoda.
While Sézane is still a relatively small business, it is growing at a rapid rate. It initially launched online only and fuelled demand for its limited edition monthly collections through social media. It offers a full range of ready-to-wear from separates to dresses, footwear and accessories, as well as lifestyle products which are accessibly priced (dresses range in price from around £120 to £170).
It went on to open a store/showroom in Paris called L’Appartement, along with a concession in Paris’ high-end department store Le Bon Marché. Last year it opened a store in New York and it has just signed a 10-year lease on a store in London’s Notting Hill having held a London pop-up on South Molton Street in Mayfair just before Christmas.
Sézane also has a menswear brand Octobre Editions, which it launched in 2016, although it does not yet ship globally.