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Permira Growth Opportunities II, a fund advised by global investment firm and owner of Dr Martens Permira, has entered into an agreement to acquire a significant minority stake in K-Way, a premium French outerwear brand, from BasicNet SpA, led by the Boglione family.
Founded in 1965 in Paris, K-Way has firmly established itself as a “fast-growing”, outdoor-inspired lifestyle brand.
Renowned for its signature windbreakers, lifestyle fashion and sportswear products, BasicNet and the Boglione family have elevated the K-Way brand over the past decade by revamping stores, enhancing the customer experience and improving the design and quality of products.
Permira stated that with its “strong” track record of partnering with global consumer brands, it is “well-positioned” to support K-Way’s growth across its channels, with a particular emphasis on direct-to-consumer avenues.
Together, Permira and K-Way will focus on: reinforcing K-Way’s brand leadership in France and Italy; opening new stores; expanding its product range; and, international growth.
Permira’s consumer team has deployed over €15bn (£12.5bn) to collaborate with more than 40 companies globally, including some of the world’s “most iconic” brands.
Notable investments from Permira funds in the sector include Golden Goose, Reformation, Gruppo Florence, Hugo Boss, Valentino, La Piadineria, Dr. Martens and BestSecret.
Permira was represented by Giliberti, Triscornia e Associati (Legal), EY (financial), Maisto e Associati (fiscal) and Bain and Company (commercial).
The transaction is subject to customary conditions and is expected to close in the first quarter of 2025.
Francesco Pascalizi, partner and head of Italy at Permira, said: “K-Way is a brand we truly admire, and we are really excited about the future prospects of the brand and partnering with BasicNet and the Boglione family”
Sebastien Floch, principal and head of France at Permira, added: “We are thrilled to partner with the Boglione family and the team at K-Way. We have followed the business for a number of years and have found that K-Way is a brand with real scarcity value which encompasses everything the Permira Consumer team loves to back: an iconic brand and product, strong heritage and DNA, universal customer appeal and distinctive positioning.
“We look forward to bringing our experience and resources to the table to support K-Way’s continued success and its global expansion plans.”
