PARIS – Funding fund HLD has entered into unique talks with the founders of Jimmy Pretty and Skilled Capital to accumulate a majority stake within the French eyewear model.
Phrases of the deal weren’t disclosed, nevertheless it’s meant to assist Jimmy Pretty “take a step ahead in its improvement by way of a well-defined digital and retailer roll-out technique in France and overseas, with the ambition to scale up its European footprint and triple its dimension inside 5 years,” in accordance with a press release launched collectively by HLD, Jimmy Pretty and Skilled Capital.
Jimmy Pretty was based a decade in the past by Antonin Chartier and Sacha Bostoni to disrupt the eyewear business. The corporate provides each sun shades and corrective eyewear designed and assembled in France in a sustainable style. Jimmy Pretty eyewear has costs beginning at 99 euros, and it claims to be considerably cheaper than the market common because of the corporate’s vertically built-in provide chain and unique distribution in its personal shops.
It has 58 shops in France and the U.Ok., in addition to an e-commerce enterprise. Jimmy Pretty is claimed to have the most important Instagram group of any eyewear maker in France.
In late January 2017, funding agency Skilled Capital ventured past style and into new classes by buying a 43 p.c stake in Jimmy Pretty. Within the prior 12 months, Jimmy Pretty registered gross sales of greater than 6 million euros.
The model has been capable of submit fast progress and robust profitability since 2017 with the backing of Skilled Capital, in accordance with the press launch. The group has additionally centered on enhancing its provide and buyer expertise, plus accelerating its digital technique and brick-and-mortar rollout.
“We’re satisfied that the corporate is ideally positioned to determine itself because the main inexpensive luxurious eyewear model, not solely in France but in addition overseas,” mentioned Jean-Bernard Lafonta, accomplice and cofounder of HLD Europe.
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