Chanel Heir Invests in Luxury Skiwear Brand Fusalp

David Wertheimer will acquire a minority stake in the high-end performance label through his two private equity vehicles Mirabaud Patrimoine Vivant and Mirabaud Private Equity, the companies said in a statement. The financial terms of the deal were not disclosed.

The new funding will be used to fuel the brand’s expansion into the lucrative US market, opening stores in Aspen and New York. There are also plans to upgrade existing stores and expand collections to include more ready-to-wear styles for spring-summer.

Founded in 1952, Fusalp has experienced a revival in recent years after Lacoste heirs Sophie and Philippe Lacoste purchased a majority stake in the company in 2014 and repositioned the brand to better resonate with the next generation of fashion-conscious luxury consumers. Today, the brand is stocked at retailers like Net-a-Porter and Matchesfashion, and has an ongoing collaboration with Richemont-owned Chloé.

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Chanel Heir’s PE Vehicle Hires Former Richemont Exec Chabi Nouri

The former Piaget CEO will co-manage a portfolio that currently includes stakes in MycoWorks, Highsnobiety and La Bouche Rouge.