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Eurazeo to take stake in cult-favorite sneaker brand Axel Arigato

Eurazeo will spend €56 million on the stake in its first European deal through its consumer brand division.

Axel Arigato founders Alin Johansson (left) and Max Svärdh
(Courtesy of Axel Arigato)

Eurazeo has agreed to pay €56 million for a controlling stake in Swedish sneaker and fashion label Axel Arigato.

The deal, which follows a $7.5 million investment from London-based Vaultier7 in 2018, will provide the company with new capital for its European expansion, including new retail locations, and its ecommerce offerings. Cult favorite Axel Arigato is also looking to develop its presence in the US and Asia.

The company started operations in 2014 with a focus on direct-to-consumer sales and now distributes through multiple channels. It currently has six physical stores and sells its products through department store chains such as Le Bon Marché and Harrods, as well as ecommerce marketplaces including Farfetch and Ssense.

The deal is Eurazeo’s first European investment from its New York-headquartered consumer brands division, Eurazeo Brands, which it set up in 2017. The firm earmarked $600 million to $800 million for investments through the unit. Its portfolio includes backpack and accessories maker Herschel Supply Co and activewear label Bandier. Outside of Eurazeo Brands, the firm has invested in fashion brands such as Farfetch, which it exited last week for €90.4 million.

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    Written by Leah Hodgson
    Leah Hodgson is a London-based senior reporter for PitchBook covering venture capital across Europe and the Middle East. Leah graduated from the University of Surrey with a BA in international politics with French. She has previously been a radio reporter in France. She later turned to financial journalism, covering the wealth management industry. She joined PitchBook in 2018.
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