Investment

Family investment group buys stake in London fashion chain

The Duke of Westminster’s Grosvenor Group has finalised plans to buy an equity stake in eponymous London fashion chain Roland Mouret, designer of the renowned Galaxy dress.

Family-owned Grosvenor, known for its property investment business, has struck the deal through its Tenant Investment Fund, intended to offer financial support to its tenants through the pandemic.

The Mouret deal is the fund’s first equity deal with a retailer following its loans to support expansion plans by JKS Restaurants and food chain Atis. 

Grosvenor has agreed to buy a stake in Mouret in the “low double digits” but it has not revealed the size of its participation. Other landlords have come under pressure to support their tenants as a result of Covid-19.

Roland Mouret opened its flagship business on Carlos Place, in London’s Mayfair, in 2011, after forming a joint venture with Simon Fuller’s XIX Entertainment, a promoter of sports and entertainment stars, including Victoria Beckham. Celebrity endorsement, which Fuller can facilitate, is important to every designer.

Fuller likes to be busy. In August 2020 XIX said it had teamed up with ByteDance, founder of TikTok, to search for pop supergroups Further confirmation is awaited. In December he confirmed XIX would be Verizon’s 5G partners for new ventures including virtual reality.

Roland Mouret takes the name of its French founder whose Galaxy dress, which made its first appearance in 2005, has become its signature, retailing at £1,595. 

According to Mouret: “The Galaxy; it’s a bit like having your first Number 1 chart hit. You are defined by it.” 

Other designs include Titanium, Moon and Pigalle. Mouret likes to be known as the Master of the Silhouette, due to his sharp tailoring. According to Mouret: “I drape, I touch, the fabric takes the lead and the element of transformation is always magical to me.”

His chief executive Mark Langthorne says of the Grosvenor deal: “We value their tremendous support for the local area during the pandemic and believe there is great synergy between our values to help realise our plans for future growth.”

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