HONG KONG. A consortium of Chinese and European investors, led by US asset company TPG, has acquired a 30% stake in APM Monaco, a contemporary jewellery brand synonymous with Monaco chic and South of France lifestyle.
TPG has over US104 billion in assets under management and offices in the USA, Europe, Australia, Asia, India and Russia. Its regional arm, TPG Capital Asia, led investors, including the China Synergy investment company (set up by TPG and CICC Capital) and Paris-based private equity firm Trail, to a definitive agreement with APM Monaco on 17 April. The transaction is expected to close in a few months.
APM Founder and CEO Philippe Prette said: “APM Monaco’s team is proud and look forward to writing a new chapter of our brand history.”
He described the TPG consortium as the “ideal leading global partner” for the brand to continue its contemporary luxury vision. “We look forward to the opportunities that lie ahead of us as we expand domestically and globally optimising our strengths with their expertise while keeping the strong identity and values of the brand”.
| Named after its founder Ariane Prette, APM Monaco was established in 1982, and specialised in jewellery design and production. The company relocated to China in 1992 and launched its own jewellery brand, APM Monaco, 20 years later. It has since established a global footprint, with a significant presence in Asia. According to the brand, APM’s vision is to combine contemporary fashion with sophisticated jewellery. APM Monaco’s campaign face is popular fashion blogger and leading influencer Chiara Ferragni, who boasts over 16 million Instagram followers. |
“APM combines contemporary luxury with fast retailing – two best-performing categories – capitalising on strong demand from an upcoming generation and increasing lifestyle spending in China,” TPG said in a statement.
The consortium noted APM’s use of in-house designers, adding that APM is a “pioneer in the fashion jewellery space with strong product innovation”. It also noted that, by the end of 2018, APM had approximately 200 stores in 26 countries.
TPG China Managing Partner Chang Sun commented: “The founders and management team of APM have successfully built a fashionable brand that resonates well with consumers and has a loyal following. We are impressed by the company’s creativity, vision for the luxury industry, and values.”
Sun underlined the role that TPG and its global resouces could play in accelerating APM’s growth on a global market.
CICC Capital CEO Ding Wei added: “As the European member of the consortium, we are thrilled to partner with Philippe and the whole management team to bring APM Monaco into the premier global jewellery brand position.”
