Yahoo Finance Revolve Acquires Majority Stake in Alexandre Vauthier
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Revolve Group, Inc. — parent company to retailers Revolve and Fwrd — announced it acquired a majority stake in French haute couture house Alexandre Vauthier on Tuesday.
This is the Los Angeles-based entity's first acquisition of this nature, after going public on the New York Stock Exchange in 2019. Per a press release, Revolve will invest six million euros over three years into the Alexandre Vauthier brand, which went into administration last year and had been seeking a buyer, and make a contribution of freshly-purchased assets to a newly-formed business entity. Additional terms of the transaction, like the price of the sale, weren't disclosed.
Though Revolve already operates 24 in-house brands, the move to buy a couture house like Alexandre Vauthier signals its evolving business strategy amid a difficult time in retail. In a statement, Co-CEO Michael Mente said: "By integrating our impactful brand marketing strategies and operational excellence with Vauthier's visionary designs, we are set to ignite a new era of fashion influence in luxury to build an iconic French maison."
The designer, meanwhile, said that, fter meeting the Revolve team, he "felt their understanding in growing a haute couture business for today's consumer and a support for all the specialized techniques and effects necessary to conceptualize a collection in this very special corner of fashion, as well as to develop it into a high quality ready-to-wear and accessories offering every season."
Revolve Group brands and Alexandre Vauthier plan to host a dinner party during Paris Fashion Week in September, commemorating the start of their partnership. There will also be a "fresh interpretation" of the French label's designs coming to Fwrd and the Alexandre Vauthier website this fall.
