At the beginning of March, the HLD investment fund became ba&sh’s majority shareholder. By buying the French women’s ready-to-wear brand, the founder of HLD Jean-Bernard Lafonta aims to double his sales by 2025 by accelerating in particular on the strategy of internationalization and digitalization. For his part, partner and chairman of the fund’s investment analysis committee, Cédric Chateau, was delighted with ba&sh’s global growth potential.
HLD is a European investment fund which manages a portfolio of 18 companies. Taken together, the latter employ 24,000 people, generate approximately 2 billion euros in turnover and experience average annual growth of more than 10%.
A success largely due to its founder Jean-Bernard Lafonta. The Chairman of the HLD Board of Directors began his career as an engineer with the electromechanical construction company Jeumont-Schneider. Subsequently, Jean-Bernard Lafonta worked in ministerial offices and then evolved within the Lazard and BNP banks, then in the Wendel group where he supported investments in Legrand, Editis and Bureau Veritas.
In 2010, he founded HLD and initiated equity investments in various business sectors (Jimmy Fairly, SVR dermatological laboratory, the equipment rental company Kiloutou, the civil and military aviation supplier Rafaut, the manufacturer of optical instruments Photonis, the company specializing in the outsourcing of Tessi business processes, etc.). Now it’s time for the clothing retail sector with the acquisition in early March of the French women’s ready-to-wear brand ba&sh.
HLD joins a hyper-growth company. Founded in 2003 by Barbara Boccara, Sharon Krief and Dan Arrouas, ba&sh has multiplied its sales by seven between 2015 and 2021. Enough to raise ambitions, since the brand is aiming for a turnover of at least 320 million euros for This year.
Ba&sh’s success can be explained by many points, first of all top-of-the-range clothing at affordable prices and whose manufacture takes care to respect the environment. At the same time, the brand sells many accessories, such as jewelry, leather goods or sneakers that complete its offer. All products are distributed both physically and digitally.
2015 was a year of international development for ba&sh. The entry into the capital of L Catterton and the recruitment of Pierre-Arnaud Grenade as CEO has in fact enabled the brand to achieve 56% of its sales outside France. ba&sh claims an increase of 200 points of sale in seven years to reach a network of 300 sites in 40 countries. It now has more than 1,200 employees.
In order to continue to grow, the women’s ready-to-wear brand is therefore betting on omnichannel and on increasing digital sales, which today account for nearly 30% of turnover. It also wishes to continue its conquest of the international market. Development issues that nevertheless require support.
This is the reason why HLD acquired a majority stake in the capital of the Parisian fashion brand. Alongside the historic shareholders, who remain associated with the capital, the investment fund will support the development of ba&sh in its next stages. HLD’s financial and operational resources will support the brand in pursuing its internationalization and digitalization strategy. The new majority shareholder aims to double ba&sh’s turnover within three years.
” ba&sh is a unique house in the world of fashion with a strong, singular identity, recognized by its customers all over the world [ …]. Ba&sh has great development potential, whether in terms of geographic expansion or the marketing of new product categories. I am delighted that HLD will be alongside its founders, Barbara, Sharon and Dan, and its CEO, Pierre-Arnaud, to support the global growth of ba&sh in the years to come”, concludes Cédric Chateau, partner and chairman of the HLD investment analysis committee.
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