An investment fund associates with Rapsodia to expand the brand globally

The Narváez Group partnered with the investment fund L Catterton to expand its clothing brand worldwide. L Catterton is the largest global private equity firm dedicated to the consumer sector with more than US$14 billion invested worldwide. Although the capitalization figures were not disclosed, "the entrance to Rapsodia occurs within the framework of an important contribution of capital, to finance an ambitious expansion plan of the brand in other markets at a regional and global level", according to a joint statement sent by the companies. This is L Catterton's first investment in Argentina, the fourth in Latin America and the most pan-regional to date. The fund has made investments in Bodytech, a leading health and fitness company in Latin America, Grupo St. Marche, one of the most innovative food retail chains in Brazil, and Espaçolaser, the Brazilian leader in laser hair removal. L Catterton's main shareholders are Catterton, the private equity operations of lvmh and the Arnault group, who together own a portfolio of more than 60 prestigious luxury brands. The objective of this fund is to invest in companies with great potential for development and growth throughout the world. Throughout its 27 years of existence, the firm has invested in a wide range of companies in the consumer sector, including They include: Pepe Jeans, Ba&Sh, Hanna Andersson, Sweaty Beatty, Hacket, Sandro&Maje, El Ganso, Restoration Hardware, Miami Design District, Frederic Fekkai, among others.Rapsodia, founded in 1999 by Josefina Helguera, Sol Acuña and Francisco de Narváez, is one of the companies of the Narváez Group. For the brand, this association represents the possibility of accelerating its growth, while staying true to its essence and style. From this new international association, the expansion of the company will be reflected in three areas: number of stores, growth in the countries where it is present, added to the landing in new markets and the development of new product lines. Currently, Rapsodia has a presence in 6 Latin American countries (Argentina, Uruguay, Chile, Paraguay, Colombia and Mexico) through 90 points of sale, working on four product lines: women, intimates, girls and home."It is the first time that an international fund decides to invest in the sector, and it is an honor and a great challenge that they have chosen to invest with us in Rapsodia. It is a great sign of confidence in Argentina, and in its creative talent," said Francisco de Narváez, president of Grupo de Narváez."We believe that L Catterton's experience in mass consumption and its success story accelerating the growth of large global brands, not only allows us to take the brand to the next stage, but multi ply employment opportunities, opening the doors to the internationalization of an Argentine brand", added the co-founder of Rapsodia. "We are very proud to be part of this wonderful journey. Throughout this time, we have built a talented team world class, and now, thanks to L Catterton, we have the great opportunity to take our brand to the world", commented Josefina Helguera, co-founder. "We value this alliance with L Catterton as a recognition of our effort and work throughout of all these years. We started Rapsodia in a small store in Las Cañitas attended by us and we watched it grow step by step, and together with Francisco, we took the brand to another level of development," added Sol Acuña, co-founder. "Rapsodia is one of the most admired brands and fastest growing in Argentina. With its strong reputation, compelling product offering, loyal customers and talented management team, Rapsodia is very well positioned to address the growing demand for womenswear and lifestyle products in the region and globally," said Dirk Donath, managing partner of L Catterton for Latin America.Donath has extensive experience in the Latin American private equity market.He was the founder and creator of Farmacity and responsible for the growth of several companies on a regional level."We see tremendous potential in Rapsodia, which has demonstrated to be one of the few clothing brands in Latin America that has had great success in multiple markets," said Julio Babecki, partner at L Catter ton Latin America. "Rhapsodia's fundamental foundation of quality, creativity and authenticity has allowed the brand connects with today's women throughout the region. We are truly excited about this opportunity and look forward to contributing to the future success of the brand." The transaction will be completed upon completion of the deal process.