A major investment has been made by Dr Martens’ owner in a renowned French outerwear brand.
- Permira Growth Opportunities II has acquired a substantial minority stake in K-Way.
- The acquisition is aimed at reinforcing K-Way’s market position in France and Italy.
- There are plans to expand K-Way’s product range and store portfolio.
- The strategic move underscores Permira’s commitment to global brand expansion.
Permira Growth Opportunities II, an investment fund advised by the global firm Permira, which also owns Dr Martens, has strategically acquired a significant minority stake in K-Way, a celebrated French outerwear brand. The deal was executed through a purchase from BasicNet, an Italian clothing organisation, though specific financial details remain undisclosed.
Permira’s plan post-acquisition is to bolster K-Way’s brand presence in its stronghold markets of France and Italy. This strategy includes a robust expansion of its product line as well as the enlargement of its physical store presence, signalling a strong push for international growth.
Sebastien Floch, Permira’s principal and head of operations in France, emphasised K-Way’s ‘real scarcity value’ and its alignment with Permira’s investment philosophy that favours iconic brands with ‘strong heritage and DNA’. Floch stated, ‘We look forward to bringing our experience and resources to the table to support K-Way’s continued success and its global expansion plans.’
This recent acquisition is in line with Permira’s established history of investing in notable fashion brands. In 2014, Permira acquired Dr Martens from the Griggs family for a substantial £300 million. More recently, in 2020, it expanded its portfolio by purchasing the Italian luxury sneaker brand Golden Goose for €1.28 billion (£1.09 billion).
This acquisition marks a key milestone for K-Way’s global expansion, underlining its potential for enhanced brand presence internationally.
