Exclusive
French fashion brand Ami Paris and HongShan fund (HSG) may soon part ways. However, the Chinese company's departure from the brand's capital is not an “emergency”, as Nicolas Santi-Weil, CEO of Ami Paris, confirmed in an email to FashionUnited.
The Chinese fund HongShan Capital Group (formerly Sequoia China) acquired a majority stake in Ami Paris in 2021. Since then, and in just over four years, the label has significantly developed its presence in the Asian market. It has launched into new segments and has forged a global and cultural brand image through its participation in several fashion competitions. More recently, it created the Grand Prix Ami Paris, in a parallel section of the Cannes Film Festival.
“It is natural that after almost five years (HongShan invested in 2020) and with an investment that has more than paid off, they are starting to think about their exit,” said Nicolas Santi-Weil by email, when FashionUnited asked the brand about Hongshan's exit.
‘We have never issued bonds’
The CEO also highlighted the brand's good financial health: “The company is doing very well and has been profitable since the first financial year. The profitability of the business largely financed its development. We have never issued bonds, contrary to what has been said recently in the press. So there is no urgency for this exit.”
According to the director, the company has not needed to go into debt on the financial markets to finance its development. It has done so thanks to its profitability, which is a positive sign of its financial health.
Nicolas Santi-Weil added: “Whatever happens, the brand bears the name of Alexandre Mattiussi, and has been successfully managed for 12 years by the duo Alexandre Mattiussi (creative director) and Nicolas Santi-Weil (chief executive officer), both of whom are shareholders in the company and wish to remain so.”
Founded in Paris in 2011, the Ami Paris brand offers a wardrobe for men and women under the artistic direction of its founder Alexandre Mattiussi. In recent years, it has presented shows during Paris Fashion Week, but also abroad, notably in Seoul in 2022.
HSG, formerly Sequoia Capital China, is a venture capital and private equity firm that invests globally in the technology, healthcare and consumer sectors. It has offices in Hong Kong, Shanghai, Beijing, Shenzhen, London, Tokyo and Singapore, and manages over 55 billion dollars of assets across various funds.
This article was translated to English using an AI tool.
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