French menswear-focused media and e-commerce group MenInvest has acquired London-based online retailer Oki-ni for an undisclosed amount. Oki-ni co-founders Charles Perez and Ben Banks will join MenInvest as shareholders and advisors. “This acquisition… is a key piece of our growth strategy to reach €100 million in revenue by 2016,” said Marc Ménasé, MenInvest founder, who plans to position Oki-ni at the top end of its spectrum of holdings. “This operation also fits into our international expansion strategy. In fact, since the beginning of the MenInvest story, we always had a global project — global from a team and customer standpoint. Oki-ni taking part of MenInvest gives us a good booster to roll out our plan. On top of that, Oki-ni brings a different way to treat the designer segment, which is something important for our growth.”
Source; Business of Fashion.
The chairman, controlling shareholder — and lodestar — of the world’s second-largest luxury goods group, Compagnie Financière Richemont SA is taking a yearlong break beginning in September. Rupert revealed his decision as the company posted a 30.2 percent increase in net profits to 2.01 billion euros, or $2.59 billion, in the 12 months to March 31.
