Los Angeles, CA and Paris, France – July 1, 2010 – OpenGate Capital, a global private equity firm, has completed its acquisition of NICOLE FARHI, an iconic fashion brand, from French Connection Group PLC. OpenGate has purchased all inventory, retail locations, and intellectual property under the NICOLE FARHI label.
“The acquisition of the prestigious NICOLE FARHI label is very important to our portfolio and aligns with our strategy to identify and buy brands with high value-creation and expansion potential,” said Andrew Nikou, OpenGate Capital founder and CEO. “We see opportunities in online and traditional retail as well as the wholesale and licensing sides of the business. Our hand-on partners are working with the management team to develop and execute a strategy for both improving fundamentals and energizing growth of the business in targeted markets and through new channels.”
Nicole Farhi is an iconic international designer and her elegant and sophisticated style has been a runway landmark since the brand’s inception. Nicole Farhi, who founded the label in 1983, is continuing in her role as Creative Director and Niki Scordi, formerly a Managing Director, is now CEO. Nikou has become chairman of NICOLE FARHI. The design house will continue to be based in London with offices and showrooms in Milan.
“We are excited to be working with the OpenGate Capital team,” Scordi added. “We look forward to expanding our retail and wholesale distribution networks both in our home market and internationally, and developing new product categories that capitalize on the strength and recognition of our brand.”
About OpenGate Capital
OpenGate Capital is an international private equity firm that acquires controlling interests in businesses with solid fundamentals which exhibit opportunities for operational improvements and growth. Established in 2005, OpenGate Capital has a global footprint with headquarters in Los Angeles, California and a principal office in Paris, France. OpenGate is served by a seasoned team of M&A and operating professionals that bring the skills needed to acquire, operate and build successful companies. The partners of OpenGate have executed more than 100 transactions worldwide ranging from corporate divestitures, turnaround acquisitions, industry consolidations and other special situations investments across a wide array of industries and geographical markets.
For more information on OpenGate Capital, please visit our website at www.opengatecapital.com.
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