- Danielle Wightman-Stone |
British luxury fashion brand Osman has sold a majority stake to private equity firm Luxcite, for an undisclosed amount, to help fund its brand development and international growth.
Osman Yousefzada, who founded the fashion label 10 years ago confirmed the deal and said that Luxcite was a great fit due to the private equity firm investing in niche luxury brands typically with creative-led entrepreneurs.
“We are very excited to be going into partnership with Luxcite. The team are exceptional professionals from both the luxury and financial industries,” said Yousefzada. “My partnership with Luxcite will see additional hands-on management to enable us to elevate the brand to the next level.”
Luxcite, headed up by founder and chief executive officer Clare McKeeve, formed last year with the aim of investing in a group of “carefully curated luxury and lifestyle companies covering fashion, beauty, wellness and lifestyle”. Osman will sit alongside their other investment in Shanghai Tang, which was completed earlier this year.
Osman sells majority stake to fund brand development and international growth
Commenting on the investment, McKeeve added: “We recognise the potential and scalability of this brand’s unique architectural and sculptural design, based around The Perfect Five, and consider the brand’s elegant aesthetic to be a clear fit for our portfolio of luxury and lifestyle brands.
“Osman’s talent in creating an elegant and strong aesthetic greatly resonates with us His Perfect Five concept is relevant for today’s consumer who is bombarded with choices, but seeking simplicity. Osman’s dedication to providing an easy solution for women is a compelling business case. We are delighted to be partnering with Osman and look forward to growing a successful and exciting company together.”
Osman is an award-winning designer label renowned for its cut and fit, and has become a firm favourite with A-list celebrities on the red carpet, with designs worn by clients including Gwyneth Paltrow, Emma Watson, and Emily Blunt. Last year the brand launched the Perfect Five, a capsule collection of entry-level priced tops, trousers, dresses, coats and knitwear.
The luxury fashion brand, which shows during London Fashion Week, is sold worldwide, including at Browns, Harvey Nichols, Matches and Selfridges in London, as well as Barneys New York, Galeries Lafayette and La Rinascente.
Images: courtesy of Osman