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DUBAI: Abu Dhabi-based investment firm Chimera plans to acquire stakes in European luxury brands through a new joint venture with Haeres Capital. The joint venture, called ChimHaeres Investment Holding, will initially seek opportunities in Italy, France, Switzerland and the United Kingdom.
It coincides with Chim Haeres’ completion of the acquisition of a majority stake in Zagato, an Italian coachbuilder and automotive designer founded in 1919. It also acquired 100% of French haute couture house Vionnet, founded in 1912 by Madeleine Vionnet. There was also a third deal, the acquisition of a majority stake in Fogal, a Swiss fashion sock brand founded in 1921.
In addition, Haeres contributed to ChimHaeres a majority stake in Borsalino, the world’s most famous hat maker founded in Italy in 1857.
Philippe Camperio, Founder of Haeres Capital and Chief Executive Officer of ChimHaeres, said: “The partnership will invest in unique European assets through dedicated industry experts, with a proactive management and ownership approach, to achieve long-term success in each portfolio company. strategy.”
ChimHaeres will continue to “find investments in aspiring strong brands”.
“Despite the pandemic and various macroeconomic and geopolitical challenges, the global luxury goods market has shown significant growth and resilience,” said Mirian Khalaf, head of private equity at Chimera Abu Dhabi. “We believe our partnership with Haeres The collaboration will allow us to capitalize on the attractive long-term fundamentals of the sector and establish us as a leading investor in the European lifestyle sector.”
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