Pronovias Group steps up in the US: seals a deal with Zac Posen
Through its White One brand, the Spanish bridal fashion group will launch a collection with the New York-based designer, returning to the collaboration business.
Pronovias Group keeps betting for the United States. The Spanish bridal fashion group takes its international growth strategy one step forwards with a collaboration with a renowned designer. The group, owned by investment fund BC Partners since 2017, steps back in the game of collaborations with the New York-based designer Zac Posen.
Though its White One brand, the youngest of the group, Pronovias will launch the Zac Posen collection at the beginning of 2020 in selected stores. Pronovias will enlarge its audience with the refreshed design concept of the designer.
Zac Posen is one of the most popular American designers, not only because of his creativity but for his career. Born in a Jewish family, Posen was accepted into Parsons The New School for Design when he was 16 years old and at the age of 18 he started studying in Central Saint Martins in London.
In 2000, Posen started to be known in the fashion scenario when he dressed Naomi Campbell and in 2001, he started his own creative studio in Tribeca. Throughout his career he has collaborated with Target and David’s Bridal.
Pronovias reinforces its strategic plan in the US, a key market for its new growing plan
The collection of Posen for Pronovias will have twenty dresses and ten bridal accessories, with a price range between 1,200 dollars and 4,000 dollars. “Our vision and experiences combined promise unique and exclusive designs for brides around the world”, stated Posen, according to Amandine Ohayon, CEO of Pronovias.
Pronovias will offer “couture with perfect lace and great quality in bridal wear, at an affordable price”. It is not the first time Pronovias collaborates with a designer, in fact, the bridal group was one of the first ones to introduce this type of alliances. In the past, Pronovias has made collaborations with brands like Valentino and Emanuel Ungaro.
US, China, M&As and creative vision
After the acquisition by BC Partners Group in July 2017 for 550 million euros, Pronovias has started a growth plan to diversify its public and international expansion. Also, the group is rearranging its design team after the exit of its creative director last July.
The company’s target markets are the United States and China. Last May, Pronovias opened its first store in China, a flagship in Plaza 66, in Shanghai. In the United States, the company has moved its New York flagship to 45 E 58th St, and its preparing twelve new openings until 2020.
According to the last available data, Pronovias closed 2017 with a revenue of 166 million euros and its expecting to arrive at 170 or 180 million euros in 2018. This estimate, elaborated by Moody’s contemplates a successful acquisition of Nicole, the Italian brand the group bought in 2018. As well as the acquisition of the Dutch Lady Bird. The ebitda of the group in 2018 was 35 million euros, with a 22% drop compared to the previous year.
Validation policy for comments:
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.