Le Temps des Cerises/Japan Rags has been recapitalized by Siparex
The French jeans-enterprise Dogg Label, owner of the brands Le Temps des Cerises and Japan Rags, has sold a minority stake in the companies to the private equity and investment group Siparex, specialized in medium-sized business development. Siparex will invest US$15 million as a first step and will raise an asset of US$55 million in an upcoming operation.
Le Temps des Cerises and Japan Rags are fashion specialist in jeans and are positioned in the vintage segment. The vintage-inspired collections stand out for the quality of clothing and for continuous innovation in shapes and materials while maintaining a competitive price.
Siparex is one of France’s leading independent private equity groups and a key player in the small and middle-market growth company segment. Siparex works closely with its portfolio companies, helping them to expand or complete buyouts and advising them on strategy, operations, and financing. The group was founded in 1978 and currently has over US$1.2 billion of capital investment. Siparex operates in France, Italy and Spain.
Dogg Label is the owner of Le Temps des Cerises trademark and its version for men named Japan Rags. The companies have built their reputation on denim around which they have developed their ready-to-wear and accessories fashion style. The group has a turnover of over US$80 million, a network of about fifty retail outlets to date and a clientele of over 1,000 retailers and retail websites located in France and abroad (through its European subsidiaries and partners in China and the Middle East).
With this new financial partner, the firm aims to develop new growth and also manage the transmission of stakes from Gil Richardière to his son Lylian Richardière. They founded the enterprise in 1998 in Marseille, each with 50% shareholding. Gil, who is the president of the enterprise, will resign his functions and his son Lylian will take over his responsibilities. Lylian will also remain in charge for the art direction of the company.
Oaklins' team in France advised the shareholders of Le Temps des Cerises on providing management advice and assisting the founders on the entire sale process.


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