Permira Looks for Next Investment

Permira’s on the prowl in fashion and using its experience at Hugo Boss as a calling card. The private equity firm picked up Boss as part of its 2007 purchase of Valentino Group, ultimately investing a combined 1.1 billion euros, or $1.2 billion at current exchange, in the companies. Valentino was sold off five years later and the investment in Boss was finally unwound last week. All told, Permira turned its investment into 2.5 billion euros, netting a profit of 1.4 billion euros, or $1.51 billion a current exchange. Now the international investment house wants to repeat that trick and is looking at companies valued at as little as $200 million and as much as $2 billion and more. The firm is working off a fund of 5 billion euros, or $5.41 billion, and at the upper end could put about 500 million euros, or $541 million, to work on a fashion company. Multiple sources said the investor was working hard to buy shoemaker Stuart Weitzman, but ultimately lost out to Coach Inc. The firm also reportedly was among those chasing a majority stake in Roberto Cavalli. John Coyle, partner and head of Permira’s New York office, said there are plenty of targets in fashion. “Our

Follow WWD on Twitter or become a fan on Facebook.

Read More...