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Sequoia Capital China has strategically invested in French designer brand Ami, with the aim of further globalising the 10-year-old fashion label’s business, according to a post on Sequoia Capital China’s official WeChat account.
The investment will make Sequoia Capital China the “controlling shareholder” of Ami, though financial details of the deal remain undisclosed. Founder and creative director Alexandre Mattiussi and CEO Nicolas Santi-Weil retain their respective roles.
An obvious advantage of bringing a Chinese partner on board for fashion brands such as Ami is their expertise in the lucrative China market, which remains the biggest driver of growth in the fashion and luxury segments. Indeed, in announcing the deal, founder and managing partner of Sequoia Capital China, Shen Nanpeng said: “We will help the brand quickly achieve digital transformation and penetrate deeply into the local market.”
Time will tell whether this is indeed the case for Ami, though recent history shows a mixed bag when it comes to international brands finding success in China with the help of a Chinese partner. Currently, Ami has stores in France, the United Kingdom, China and Japan, with more than 350 points of sale worldwide.
