A.P.C. Names New President as Proprietor L Catterton Targets Progress

PARIS — A.P.C. and personal fairness agency L Catterton have named Pierre-Arnaud Grenade president of the French vogue model, betting on the successful mannequin of development coupled with CSR transformation that characterised his prior tenure at Ba&sh, WWD has discovered solely.

L Catterton recruited Grenade as chief govt officer of Ba&sh when it invested within the French up to date label in 2015. Over the subsequent seven years Ba&sh’s revenues multiplied by seven to achieve greater than 320 million euros in 2022, when L Catterton bought its majority stake to personal fairness agency HLD Group.

Now the LVMH Moët Hennessy Louis Vuitton-backed client funding large is bringing again Grenade to inject recent momentum into A.P.C., following its acquisition final yr of a majority stake within the model based by Jean Touitou.

“His mission is to increase and advance its inventive dynamic, reinforce its monetary construction and provides it new selective development alternatives,” A.P.C. mentioned in an announcement.

On the time of the acquisition in March 2023, L Catterton mentioned A.P.C. had revenues of simply over 100 million euros. Eduardo Velasco, a companion in L Catterton Europe, advised WWD that determine might be 5 occasions larger. 

He famous that A.P.C. was a “legit way of life model” with shut connections to the worlds of artwork and music and an extended historical past of working within the space of sustainability, a key contact level for shoppers at this time.

Since founding the model in 1987, Touitou has established a robust cultural presence, forging collaborations with manufacturers together with Lacoste, Carhartt, A Bathing Ape and Sacai. However the model was severely hit by the coronavirus pandemic, and Touitou mentioned he was prepared handy over the reins to a companion with strong monetary assets.

“Pierre-Arnaud Grenade is able to deliver new power to A.P.C.,” the model mentioned Tuesday.

“Impressed by the elegant and understated aesthetic of Jean and Judith Touitou, and with their help, he’s decided to present new momentum to the A.P.C. model, which may be outlined by its minimalism, impertinence and deep respect for the atmosphere,” it added.

A.P.C. famous that the 56-year-old govt combines retail experience with a deft dealing with of inventive groups and the institution of efficient sustainability methods, along with fostering “a administration tradition based mostly on initiative and autonomy that enhances the attractiveness of the enterprise.”

A veteran of manufacturers together with Oxbow, Morgan and Princesse Tam Tam, Grenade is administrator of the French Federation of Ladies’s Prepared-to-Put on and founding companion of Teampact Ventures, an funding fund that invests in mission-driven start-ups, alongside prime athletes.

Below his management Ba&sh expanded not solely in Europe, but additionally in North America and Asia. Over the course of eight years its community of shops grew from 65 places in Europe to 320 worldwide, with abroad markets accounting for 65 p.c of gross sales and on-line taking a 25 p.c share, in keeping with Grenade’s biography.

In tandem with the agency’s omnichannel transition, backed by an ecosystem of start-ups, he applied an bold CSR transformation program dubbed Ba&sh Blossom, which allowed the corporate to realize B Corp standing in June with a 98 p.c score.

“To spice up A.P.C.’s inventive momentum, drawing on its distinctive model markers (minimalism, impertinence, and respect for the atmosphere), he’ll quickly work on a brand new technology of merchandise in step with the model’s aesthetic id,” the biography said.