DECA Investments, an alternative investments fund manager that manages DIORAMA Investments Sicar SA, invests in the Greek fashion company Axel Accessories, the fund reported. This is their fifth investment in the Greek market, but very first in the clothing industry.
According to the official announcement made by the company, DECA invests over six million euros in Axel, acquiring strategic minority stake at the company. Kostas Lagoumakis, the CEO and Co-founder of Axel, says that this investment will help them reach their vision to make Axel a globally recognized brand name, but foremost to boost their export on the Spanish and Italian market.
“This is a strategic partnership, a station for the history of AXEL, with people – investors who offer know-how and experience for the international markets. It is a great honor to be the first Greek company in the clothing industry in which Diorama invests. Our goal is to boost exports mainly for our two most important international markets, Spain and Italy, where our network already has 500 outlets. The development of Axel, which has been continuously recorded since 1999, is to be accelerated and strengthened further. The common goal is to reach our vision, a globally recognized Axel brand name”, says Lagoumakis following the investment, startupper.gr reported.
On the other hand, the CEO of DECA, Nikos Koulis stressed that investing in Axel, although the first in a woman’s clothing, footwear and accessories company has the key features that the company seeks in all investments: cheerful people and vision that have managed to penetrate important and competitive foreign markets. “I believe that together we will succeed and create returns for shareholders, good jobs for the employees and pride in another company based in Northern Greece,” he said.
Founded in 1999 in Thessaloniki, Greece, Axel Accessories S.A. is a leading force in the fashion world that distributes its unique brand of clothes, bags, shoes and other fashion accessories throughout 45 countries, spanning more than 1.684 points of sale. According to the company’s date, Axel has 114 employess, and solely in 2016 it had sales of 15 million, out of which 50% made in exports abroad.
DECA Investments AIFM (“DECA”) is an Alternative Investments Fund Manager (“AIFM”) regulated by the Hellenic Capital Markets Committee. DECA manages DIORAMA Investments Sicar S.A. (“Diorama”). Diorama is a generalist growth capital private equity fund, regulated by Luxembourg’s Capital Markets Commission (CSSF). The Fund has a 10-year term and an investment period of 3-5 years.
DIORAMA’s primarily invests in eligible Greek SMEs, which satisfy strict investment criteria: attractive sector dynamics, management quality and integrity and growth potential. Fund investors are distinguished Greek businessmen as well as Greek and international institutional investors such as the European Investment Fund (EIF), the EBRD and the European Investment Bank (EIB).
Prior to this investment in Axel, they’ve invested in four other Greek companies: Atlas Tapes SA, Damavand, InternetQ and Adam Pack.