Ralph Lauren Corp. is selling Club Monaco as part of its turnaround strategy to focus on its core namesake brands.
The company announced the sale of the upscale apparel brand to private-equity firm Regent L.P. The value of the deal, expected to close by the end of June, was undisclosed.
Ralph Lauren bought Club Monaco, founded in Canada in 1985, in 1999. Last year, the company announced that, as part of a “strategic realignment plan” to accelerate growth, it was reviewing its brand portfolio. The sale of Club Monaco concludes the review.
“For the past twenty-two years, Club Monaco has been an important and valued part of the Ralph Lauren family, and we are grateful for the many contributions the brand and its team have made to our Company,” said Patrice Louvet, president and CEO. “As we increase our focus on our core namesake brands, we want to ensure the Club Monaco brand is also well-positioned for long-term success. We are confident that Regent is the right home for Club Monaco to realize its full potential, as they will be able to leverage their strategic and operational expertise to continue Club Monaco’s growth.”
Based in Beverly Hills, Calif., Regent’s selected investments include Escada, DiamondBack, Redline, La Senza, Brands4Friends, Plainville Farms, Sassoon, Sunset Magazine, Lillian Vernon, HistoryNet and Sightline, a media portfolio comprised of 18 newspapers and magazines.
