French private equity firm LBO France has acquired Bexley, a French retailer of men’s shoes.
Bexley was founded in 1985 and sells footwear in the affordable luxury segment of the market. It has also diversified into men’s clothing such as shirts, jumpers and suits, and into accessories such as belts, socks and small leather goods.
It sells its products through its own retail shops and online through its e-commerce platform, which accounts for a third of its total sales.
The business has 75 employees which are split between its head office in Lyon and its 14 stores.
The investment by LBO France will be used to open new shops in other French cities, to develop its e-commerce platform, and to identify sites for shops in large European cities such as London or Berlin.
The founding manager of the business Eric Botton will maintain a minority stake in the business.
Jérôme Guez, Partner at LBO France, said: "We are very enthusiastic about this fifth investment of our Mid Cap fund White Knight IX in Bexley. We look forward to working alongside the founding manager, Eric Botton, and his team in order to accompany Bexley in this new development chapter, by extending its store network, enhancing its e-commerce platform while maintaining very high profitability."
Eric Botton, Bexley’s founding manager, added: "I am very pleased to pursue Bexley’s growth story with LBO France, a financial sponsor in which, with the support of their operating team, we have found a real understanding of our challenges and the clear willingness to invest alongside us in giving a whole new dimension to Bexley."