Friday, September 30, 2016
Tomorrow London attracts new investorPortfolio Insight
The London-headquartered, multi-brand, multi-service company led by CEO and founder Stefano Martinetto and Giancarlo Simiri, has a new backer. Red Circle Investments, the family investment company of Diesel founder and OTB President Renzo Rosso, has acquired a high single-digit stake of Tomorrow London Ltd, joining recent investor Three Hills Capital Partners.
Tomorrow London is well known in the market for its large scale, highly curated showrooms in each of the major fashion capitals. From its iconic four-storey 22,000 square feet flagship in Paris Bastille, through to its Milan and London spaces, and its recurring presence in New York, Tomorrow currently distributes and advises over 60 brands. Offering not only global distribution services, Tomorrow is a multi service platform providing fast growing brands with advisory services on business strategies. Ranging from Couture to Designer, and from Contemporary to Accessories, the showroom offers menswear, womenswear, footwear, technology, lifestyle, athleisure and interior design, including the likes of Marni, Oamc, Tibi, Facetasm, Frame, Steve J. & Yoni P, Markus Lupfer and Rebecca Minkoff.
Stefano Martinetto commented: ”Since we completed our MBO in November 2015, it was our ambition to attract strategic partners to support the growth of our company. We are incredibly proud to have Renzo and Red Circle on board. He has always been an inspiration, and in recent years a mentor to me. Our company strategy is to invest in the digitalisation of the services we currently offer to our clients. Our approach is already recognised as multi-disciplinary and omni-channel, but the capital we are receiving will accelerate the development and expansion of the different services we already provide such as business advice, range and merchandise planning, e-commerce support and events production.”
Thus Renzo Rosso, who will enter the Board of Directors of Tomorrow commented: “I have been visiting Tomorrow showrooms for quite some time now, because I know that it is always an interesting hub of alternative, new creativity – exactly what I like. At the same time, I am impressed by the passion and the business reliability of the two founders of Tomorrow. I hope together we will be able to achieve even more and continue to foster young creativity.”
Red Circle Investments acquires minority stakes in a wide range of different businesses, ranging from the digital sphere (it is the second biggest investor of Yoox-Net-a-Porter, as well as a long-time supporter of digital start-up incubator H-Farm which went public late last year, and of Depop, a peer-to-peer social shopping app), to organic food (in 2013 it entered the capital of EcorNaturaSì, Italy’s biggest producer and distributor of biodynamic, natural products). Red Circle Investments constantly evaluates new investment opportunities that reflect the principles and the ‘braveness’ that have always been the signature of the Rosso family.