PARIS — Greek luxurious way of life model Zeus+Dione is about for progress within the new 12 months following a strategic funding from personal fairness fund Halcyon Fairness Companions.
Monetary phrases weren’t disclosed. In an interview, Halcyon Fairness Companions managing associate Eleni Bathianaki characterised it as “a considerable minority” stake.
Chief government officer Dimitra Kolotoura cofounded the model in 2013 to raise Greek craftsmanship and protect the cultural, creative and artisanal heritage. Kolotoura needed “to create one thing significant,” she informed WWD. The model takes its title from the mother and father of the Greek goddess Athena, and seeks to deliver collectively historical and trendy parts at an accessible luxurious worth level.
With the present luxurious local weather battering established manufacturers, Bathianaki believes Zeus+Dione’s robust model id as a Greek home is a chance to face out.
“It’s an important alternative, as a result of basically it provides an untapped market to manufacturers that deliver one thing completely different to the desk, manufacturers which are linked with historical past, with character, with craftsmanship, with sustainability, with true values,” she mentioned.
“With the decline of the posh trade, it’s the time to spend money on a extra bodily method,” added Kolotoura. Prospects will search out manufacturers with roots that may inform the story of how and the place an merchandise was made, she predicted. The Zeus+Dione merchandise are made within the nation, and the “overwhelming majority” of textiles are sourced inside Greece as properly, they added.
The 11-year-old model is now designed by Marios Schwab, who joined as inventive director in 2021. Schwab has relocated from London to Athens to supervise the atelier and work with the greater than 80 native artisans that contribute to the road.
Kolotoura additionally collaborated with Dior’s Maria Grazia Chiuri for the resort 2021 assortment that was proven in Greece, who used her craftsmen for some items.
The corporate has supported the reopening of closed factories within the northern a part of Greece. “This has had an enormous social impression,” Bathianaki mentioned of native employment. “Customers must know, and we’ll be sure that all of this footprint and all of the impression that the corporate has made will likely be communicated, as a result of it is vital.”
Zeus+Dione’s tenth anniversary runway present.
Yiorgos Kaplanidis / Courtesy Zeus+Dione
Zeus+Dione staged its first runway present final 12 months to have a good time its tenth anniversary. “That was like a catalyst,” Kolotoura mentioned. The well-received present spurred curiosity from a number of personal fairness funds earlier than she linked with Bathianaki.
“I like the truth that she is a girl in a male-dominated world,” Kolotoura mentioned. Bathianaki started her profession at Solomon Brothers and Morgan Stanley earlier than founding Halcyon Fairness Companions in 2022.
“Our private mission was truly to spend money on the very best of Greece,” she mentioned of the fund’s mission. Halcyon is backed by the European Funding Fund, amongst others, and now has 190 million euros for rising corporations from any sector. The fund units out to “determine these distinctive diamonds, the very best of Greece throughout sectors, to spend money on these founders and actually make these corporations worldwide.”
She was a Zeus+Dione shopper earlier than she first contacted Kolotoura in 2023 and added that the corporate has a worthwhile monetary basis, with company transparency and governance at its core, and thus is properly ready for progress.
Appears to be like from fall 2024.
Rene Habermacher / Courtesy Zeus+Dione
The model at the moment has a flagship in Athens, in addition to boutiques inside two of the 4 Seasons accommodations within the Greek capital, and is accessible at 230 factors of sale worldwide. Increasing the retail footprint is on the horizon.
Zeus+Dione estimates the model can have 4 shops in Greece and one overseas by the second quarter of 2025. They’re eyeing Paris for that first worldwide location, as they’ve developed a loyal native clientele right here over time.
“When you’re established in France, the place all the key manufacturers have been established, you’re feeling that you’ve got a powerful seal of approval from a shopper’s perspective, but in addition from a enterprise perspective,” Kolotoura mentioned. “Then you’re able to go and take another steps. Paris will give us this primary worldwide step.”
Following Paris, the model plans to open shops in three further new markets over the following 5 years.
The funding may even strengthen its omnichannel presence to faucet new markets outdoors of Europe, focusing on Asia, in addition to develop its homewares and menswear traces. The corporate plans so as to add new classes, and whereas specifics stay below wraps, Kolotoura hinted that it could possibly be within the hospitality area.
As a part of establishing Zeus+Dione as a world model, Bathianaki and Kolotoura wish to entice worldwide expertise to Athens.
In one of many first strikes with Halcyon, the model has already employed three new executives, together with a chief advertising officer and a head of merchandising, to construct out their workforce.
Collectively they’ve massive ambitions, and Bathianaki will take a strategic adviser function.
“We’re working very carefully with the founders to actually deliver worth and create this roadmap of progress that may basically triple the dimensions of the corporate in three to 4 years’ time,” Bathianaki mentioned.
A glance from fall 2024.
Rene Habermacher / Courtesy Zeus+Dione