The label went for sale in August 2017 for an estimated price of 50 million pounds (54 million euros). The French luxury company acquired the business for an undisclosed sum.
Chanel widens its portfolio again. The French luxury company has strengthened its brand assortment with the acquisition of men’s swimwear brand Orlebar Brown for an undisclosed sum. Through the deal, Chanel reinforces its swimwear business and aims to create synergies between Orlebar Brown and Eres, the group swimwear label for women.
“As a digital native brand, Orlebar Brown will enable Eres to strengthen its digital expertise and optimize its omnichannel distribution strategy,” said global finance director Philippe Blondiaux. “Orlebar Brown, on the other hand, will benefit from the retail experience and expertise of a long-standing player in high-quality beachwear.”
Orlebar Brown went on sale in August 2017 for an estimated price of 50 million pounds (54 million euros). It was founded in 2005 by Adam Brown as a pure player, but it currently runs over 20 brick-and-mortar in nine countries. The company also sells through ecommerce platforms like Zalando, Matchesfashion and MrPorter.
Besides Orlebar Brown, Chanel also owns women’s swimwear brand Eres
Chanel has accelerated its growth by taking over some of its key suppliers in the last few months. Last august, the French company bought Spanish leather goods manufacturer Colomer and, a month later, reached a deal to acquire Swisss watchmaker Montres Journe.
Controlled by the Wertheimer brothers, Chanel released its financial results last June for the first time in its history. The company posted sales of 9.62 billion dollars (8.3 billion euros) last year, 11% more than in the previous year. On the other hand, operating profit stood at 2.69 billion dollars (2.32 billion euros).