Abu Dhabi’s Chimera is chasing luxury brand purchases in JV with Haeres Capital
Chimera and partner firm Haeres Capital have already done deals with niche luxury brands
Dubai: The Abu Dhabi-based investment firm Chimera plans to acquire stakes in European luxury brands through a newly struck joint venture with Haeres Capital. The JV, called ChimHaeres Investment Holding, will look for opportunities initially in Italy, France, Switzerland, and the UK.
This comes just as ChimHaeres completed the acquisition of a majority stake in Zagato, the Italian coachbuilder and car designer, founded in 1919. It also acquired 100 per cent of Vionnet, the French haute couture label founded in 1912 by Madeleine Vionnet. There is also a third deal, for a majority stake in Fogal, the Swiss fashion hosiery brand founded in 1921.
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In addition, Haeres also contributed to ChimHaeres its majority equity stake in Borsalino, the world’s most famous hat maker, established in 1857 in Italy.
“The partnership will invest in unique European assets applying a pro-active management and ownership approach, through dedicated industry experts, to deliver the long-term strategies of each portfolio company,” said Philippe Camperio, founder of Haeres Capital and CEO of ChimHaeres.
ChimHaeres will remain on the ‘lookout for investments in strong aspirational brands’.
“The global luxury market has shown remarkable growth and resilience despite the pandemic and various macroeconomic and geopolitical challenges,” said Mirian Khalaf, Head of Private Equity, Chimera Abu Dhabi. “We are confident that our partnership with Haeres will enable us to capitalise on the attractive long-term fundamentals of the industry and establish ourselves as a leading investor in the European lifestyle space.”