Luxury French brand Chanel has purchased UK-based high-end men’s swimwear company Orlebar Brown at an undisclosed amount.
Interestingly, Chanel has bought Eres, the lingerie and women’s swimwear label in 1996, and now it will offer high-end swimsuits to its men customers as well.
“Besides the fact that we share the same values and the same approach towards quality and know-how, this acquisition offers an ideal opportunity for synergies between Orlebar Brown and Eres,” said Philippe Blondiaux, Chanel’s global CFO.
Post-acquisition, Adam Brown will remain Orlebar Brown’s Creative Director, while Paul Donoghue will be the CEO.
Notably, Orlebar Brown was launched in 2011 and has 24 directly-owned stores in 11 countries, and is also available at over 250 specialised retailers. It will expand internationally and open new stores in the USA, Europe and Asia. The brand also has a strong digital presence as 40 percent of its current revenue come from the online retail business.
The news of acquisition has come a few days after Chanel acquired a 20 percent stake in the F.P. Journe watch brand.