MONTREAL, May 2, 2024 /PRNewswire/ – Joseph Ribkoff, a premier designer, manufacturer, and international wholesaler of women’s apparel, is thrilled to announce a significant new round of investments from long term investors Novacap and Fonds de solidarité FTQ, and from new investor DNA Partners. This strategic infusion of capital, along with Scotiabank/Roynat Capital as new lender, demonstrates continued support in Joseph Ribkoff’s growth trajectory and provides the necessary resources for the Company to execute its ambitious vision for the future.
Founded over 65 years ago and still headquartered in Montreal, Joseph Ribkoff employs over 500 talented people across 40 offices and showrooms worldwide. It is present in over 3,400 retailers in over 60 countries. In 2019 the Company inaugurated a European manufacturing and distribution facility which complements its existing operations in Quebec where it carries out most of its design, manufacturing, and commercialization activities. The brand’s enduring success and expansion have been bolstered by an initial investment from Novacap and Fonds de solidarité FTQ in 2017.
Under the leadership of Emmanuel Amzallag, who was appointed as CEO in early 2023, Joseph Ribkoff has embarked on significant advancements, notably investing in cutting-edge technology, and undergoing a strategic repositioning following changes in consumer demand resulting from the COVID-19 pandemic. These efforts have not only strengthened the brand’s market position but have also underscored its commitment to sustainability, innovation, and excellence in the women’s apparel sector. The company is now in a good position to deliver on its brand vision of becoming the most loved and worn brand for fashion-forward women.
Dominic Mancini, Senior Partner at Novacap, stated, “We are enthusiastic about Joseph Ribkoff’s growth prospects and ability to leverage its globally renowned brand. Over the years, the company has built an influential brand presence in a key demographic and an impressive worldwide retail distribution network. This new investment positions Joseph Ribkoff to deliver on its brand vision and propel its global expansion and innovation roadmap.”
Echoing this sentiment, Emmanuel Amzallag, CEO of Joseph Ribkoff, highlighted the brand’s strategic priorities, “Our focus remains steadfast on delivering compelling collections that resonate with our diverse clientele, optimize our operations and better serve our partners globally, while cementing Joseph Ribkoff as a great place to work. This investment will significantly accelerate our efforts towards these goals.”
Moreover, Daniel Labrecque, Co-founder and CEO at DNA Partners, commended Joseph Ribkoff’s vision, strategic investments, and growth potential. “We are immensely impressed with the direction of the Joseph Ribkoff brand and are excited to bring our entrepreneurial expertise to help write the next chapter of the Joseph Ribkoff legacy. The company’s strengths are anchored in its values of Passion, Partnership and Persistence, combined with a genuine commitment to creativity and innovation. We are confident that our association will foster unparalleled growth and achievements for Ribkoff.”
This new phase of investment from Novacap, Fonds de solidarité FTQ, and DNA Partners is a testament to Joseph Ribkoff’s enduring legacy and its unwavering commitment to excel as a leader in the global fashion industry.
About JR Fashion Holdings Inc. (Joseph Ribkoff)
Founded in 1957 and headquartered in Montreal, Joseph Ribkoff designs classic and contemporary garments for fashion-forward women with a youthful state of mind. Each one of the carefully tailored pieces offers the effortless fashion, fit, and quality that the company has been synonymous with for 65 years. Sold in over 3500 stores worldwide, the brand has blossomed into a touchstone for timeless feminine style.
Today, the Joseph Ribkoff brand thrives in over 60 countries around the world, as its iconic products continue empowering women to live the most exciting chapter of their lives.
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in Industries, TMT, Financial Services, and Digital Infrastructure, Novacap’s deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Montreal, Toronto, and New York.
For more information, please visit www.novacap.ca.
About DNA Partners
DNA Partners is a private equity group dedicated to supporting entrepreneurs in Quebec. We are a collective of passionate entrepreneurs, seasoned operators, CEOs, and financial experts committed to helping our portfolio companies realize their full business potential. In addition to its investment team, DNA Partners can count on a number of seasoned entrepreneurs and CEOs who add operational and strategic value to portfolio companies. DNA Partners is part of DNA Capital and is based in Montreal.
For more information, please visit www.dnapartners.ca.
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 769,459 shareholders.
With net assets of $18.9 billion as at November 30, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments based on the belief that impact is created as much by financial as social returns. For more information, visit fondsftq.com or our company page on LinkedIn.
SOURCE Novacap Investments Inc.
