Eurazeo exits Desigual

According to Eurazeo, the sale will generate net proceeds of €141.9m for the GP and its investment partners, and €105.7m for Eurazeo's stake, which represents a return on its initial investment of 0.5x.

Eurazeo invested €285m in Desigual in return for a 10% stake in the business in March 2014. The business is a portfolio company of Eurazeo Capital II, which acquired a 25% stake across seven of Eurazeo's non-listed portfolio companies, including Desigual, for an aggregate €340m injection. The vehicle was launched in June 2016 and held a final close on €500m in January 2017.

Desigual used the capital invested by Eurazeo to accelerate its international development, particularly in the US, Latin America and Japan, and expand further in Europe. The brand also extended its offering by including new products such as accessories, footwear and household goods, and further developed its distribution network and digital channel.

Company
Established in 1984 and headquartered in Barcelona, Desigual designs and distributes clothing and accessories. The brand is famous for its patchwork, asymmetrical and colourful design, and employs around 4,600 people. It sells its products in 100 countries worldwide through its standalone stores, multi-brand stores and its online platform. Desigual posted a turnover of around €760m in 2017, down 11.5% on 2016.

People
Desigual – Thomas Meyer (founder, CEO).

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• Topics
• Exits
• Southern Europe
• Consumer
• Eurazeo
• Spain
• Management buyback