Exclusive: Self-Portrait Founder Acquires Roland Mouret

Self-Portrait founder Han Chong has taken luxury label Roland Mouret out of management, in a move aimed at creating a new fashion collection under the name SP Collection.

Financial terms of the deal were not disclosed, but it comes amid a wave of consolidation in the fashion market as a volatile and increasingly competitive landscape has made struggling brands attractive targets for companies looking to diversify revenue sources and expand into new categories.

Italian fashion group OTB, which acquired Jil Sander in March, and brand incubator Tomorrow, which acquired a majority stake in menswear designer Martine Rose in October, have joined luxury fashion giants and emerging fast fashion companies in the race to snap up smaller businesses and tap into larger economies. the size.

Chung called the SP group a “natural next step” in a press release on Monday. He said the group’s goal is to create a platform that can discover, nurture and develop best-in-class creativity and design.

The acquisition of Roland Mouret brought a well-established brand with a strong following to the new group. The luxury label is known for the figure-hugging Galaxy dresses worn by Victoria Beckham and the Duchess of Cambridge. Before the pandemic, the brand was in the midst of a turnaround, with profits jumping to 950,000 pounds ($1.3 million) from sales of 16 million pounds, up from 2.5 million pounds in losses in 2018, according to British company filings. House.

But then, Covid-19 hit. Demand for occasion wear fell and tourism to its main London location was halted. Officials and movers were reportedly seen leaving a London store in November.

Chung hopes to successfully leverage Mouret’s creative legacy by supporting a stronger business infrastructure to reach and engage with global shoppers.

The Malaysian-born designer made his name through Self-Portrait, which launched in East London in 2013. The brand has led the Instagram wave of success, investing early in celebrity and influencer marketing.

In 2019, Chinese fashion group Ellassay pumped 30 million yuan (about $4.5 million) into a joint venture that funds Self-Portrait’s rapid expansion in China, the world’s largest fashion market.

The brand says sales grew 60 percent year-over-year in 2021, and expects sales to more than double in 2022.

SP Collection represents the next stage in Chong’s growth ambitions as he seeks to compete in an increasingly complex and competitive market.

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