International investor snaps up Manchester based luxury fashion retailer Hervia
Rami Cassis, an international growth investor and founder of Parabellum Investments, has announced his entrance into the luxury goods market by acquiring the fashion retailer Hervia.
Rami plans to diversify heavily into the luxury market over the next 12 months and was reportedly attracted to the “strong growth potential” of the UK’s fashion sector.
He will take Hervia into its next phase of expansion by striking new partnerships with emerging designers in the UK, France, and Italy, and exploring new segments such as childrenswear. He also plans on further strengthening Hervia’s customer experience by investing in the brand’s online platform.
The deal was made through Rami’s private family office, Parabellum Investments, and is his first in the fashion industry. Rami has held a number of executive positions and has grown a portfolio across a range of sectors spanning enterprise software, technology, and energy.
Hervia is a luxury fashion e-tailer with an extensive customer base across the UK, Europe, North America, and Asia, as well as a flagship store, Hervia Bazaar, in Manchester. It sells clothing, jewellery, and accessories from designers such as Raf Simons, Maison Margiela, Rick Owens, and Yohji Yamamoto.
The company was founded in 1993 by Oscar Pinto-Hervia, who retains a stake in the group and will remain group CEO. It was the first retailer to stock debut collections from Alexander McQueen, Helmut Lang, and Hussein Chalayan, among others, and will continue its strong heritage of finding and supporting the next generation of talent in the fashion industry.
Rami Cassis, founder of Parabellum Investments, said: “I’ve always had a strong interest in fashion, so this is a great opportunity to pair my business expertise with a personal passion.
“Hervia has a rich legacy as a brand and strong foundations as a business, and our ambitious plans are based on driving future organic growth as well as exploring new acquisitions for Hervia.”
Oscar Pinto-Hervia, CEO of Hervia, added: “It’s an exciting time for Hervia as we look to onboard fresh, new brands and open additional stores. I was struck by Rami’s enthusiasm and his growth plans for Hervia align with our ambitious vision for the company.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning National email for free.