Ralph Lauren Corporation has announced the sale of its Club Monaco brand to Regent, a global private equity firm, for an undisclosed fee.
Expected to close by the end of June 2021, the transaction represents a continuation of the group’s fiscal 2021 strategic realignment plan.
Revealed last year, the plan included an evaluation of Ralph Lauren’s brand portfolio in an effort to ensure sustainable growth at its core brands.
Patrice Louvet, president and CEO at the company, said: “For the past twenty-two years, Club Monaco has been an important and valued part of the Ralph Lauren family, and we are grateful for the many contributions the brand and its team have made to our company.
“As we increase our focus on our core namesake brands, we want to ensure the Club Monaco brand is also well-positioned for long-term success.”
He added that Regent will allow Club Monaco “to realise its full potential” through its “strategic and operational expertise”.
The deal follows the licensing of Ralph Lauren’s Chaps brand last year, which set the group upon its path of portfolio restructuring.
Micheal Reinstein, chairman at Regent, said: “Club Monaco is a beloved brand with a modern style, loyal customer base and long runway for growth.
“We see tremendous opportunity for Club Monaco and are excited to leverage our retail and e-commerce expertise to build upon the strong brand that the Ralph Lauren team built over two decades of stewardship.”