The Belgian Investment firm Gimv is taking a majority stake in French lingerie group Wolf. Gimv will own 52 % of the company’s share, while a French government fund will also invest in the lingerie manufacturer.
Wolf keeps hold of 40 %
Together with local French fund Alsace Capital, Gimv is purchasing shares from Cathay Capital, the EPS fund and CEO Rémy Wolf, although the latter still keeps hold of 40 % of the company’s shares. Gimv will invest some 18 millioneuro, making it one of the largest investments of the fund.
Wolf is mainly known for its larger-sized bras, of which the most well-known brand is Sans Complexe. The brand is in a growing market as Western woman have ever-increasing breast sizes. Last year Wolf launched another two brands, one of which is ‘Oups’, geared towards younger women.
(Translated by Gary Peeters)