The L Catterton fund recently acquired a minority stake in the Parisian leather goods house, Polène. This will enable Polène to write a new chapter in its history.
L Catterton has just announced that it has acquired a minority stake in Polène, the Paris-based leather goods house. Otium Capital, until now a shareholder since 2016, has given way to the fund born of the association in 2016 of the Catterton fund with LVMH and Bernard Arnault’s family holding company.
Rapid expansion
This acquisition comes as no surprise given the House’s meteoric growth.
Founded in 2016 by Elsa, Antoine and Mathieu Monthay, the grandchildren of the founder of Saint James, the historic knitwear brand, Polène has rapidly established itself as a key player in the world of luxury leather goods with its sleek, sophisticated bag designs as well as their gentle price tags of under 600 euros.
A success that is accelerating: Polène has even managed to more than double its sales in 2023, to the remarkable level of 142.7 million euros.
Renowned for its exceptional leatherwork and designs inspired by legendary designers such as Madame Grès and Madeleine Vionnet, Polène has won over a discerning public, including both fashionistas and celebrities such as Kate Middleton.
All this with a strong ally: the Emily in Paris series, part 2 of season 4 of which will be broadcast from September 14 on Netflix. The presence of the French label in the hands of Lily Collins and Camille Razat in numerous episodes has led to long queues outside its boutiques and even stock-outs.
In addition to its thirteen bag collections, the Maison has developed small leather goods, micro-bags and belts. The brand has even recently experimented with jewelry.
International expansion
With the recent opening of boutiques in Seoul, Tokyo and New York, Polène is trying to establish itself as a key player in contemporary luxury on the world stage.
After conquering key markets in Asia and North America, the brand is now strengthening its presence in Europe. It is preparing its arrival in London and Hamburg in 2025, and in Paris, with a store planned for the Champs-Elysées by the end of the year.
With Lvmh now a shareholder, Polène looks set to write an exciting new chapter in its history, under the watchful eye of the fashion world.
This acquisition follows on from the purchase of Patou in 2018, relaunched in the “modern contemporary” segment, an accessible luxury segment usually dominated by the SMCP group (Sandro, Maje, Claudie Pierlot).
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Featured Photo: © Polène
