Advent to back French fashion retailer Gérard Darel

Gérard Darel is a designer and retailer women's ready-to-wear clothing, employing 600 people in 40 countries. The business has about 90 own-brand shops, 140 department store concessions and 1,200 multi-brand boutiques, providing a strong platform for cross-border growth.

The company generated sales of around €158m in 2007, up 12 per cent from the previous year, according to a statement.

Pascal Stefani, managing director of Advent in France, said, 'We are delighted to support the management team composed of Danielle Darel, Laurent Gerbi and David Maruani, whose ambitions and values we share, in this new phase in the company's development. We have been impressed by the quality of Gérard Darel's products and its excellent positioning in the affordable luxury goods market. The company's future growth prospects are strong and the performance of its retail and wholesale network, as well as the professionalism of its management team, are equally important assets which will allow Gérard Darel to become a leading women's clothing and leather goods brand worldwide.'

Advent focuses on international buy-outs, strategic restructuring opportunities and growth buy-outs. Recent transactions include the IPO of lululemon athletica in the US and the acquisition of Fat Face in the UK.

Copyright © 2008 AltAssets