CVC announced the completion of an investment in A Bathing Ape (BAPE) after the Japanese streetwear brand became an independent company from I.T Limited. This follows the privatization of I.T Limited by Brooklyn Investment Limited, owned by CVC Capital Partners Asia V Limited and the Founder Group of I.T on April 30. With the investment, CVC has acquired co-control of BAPE.
BAPE is a streetwear brand founding in Harajuku, Tokyo in 1993. BAPE’s lineup of labels includes A Bathing Ape, AAPE, Baby Milo, BAPE Black, and Mr. Bathing Ape, which are sold in stores in Asia, North America and Europe.
CVC said it plans to support the expansion of its business online and geographically. BAPE will pursue the growth of its presence in overseas markets including the U.S., Europe, China, and evolving its online offering to enhance its customer experience and optimize its marketing and sales channels.
Yann Jang, director, CVC, said, “BAPE is an iconic brand with a loyal fan base that has defined the fashion industry with its premium streetwear designs. We are looking forward to bringing this exciting brand to more markets and new customers around the world.”
CVC will leverage its experience in internationalization, commercial expansion and digitalization and its existing portfolio of global brands to support BAPE’s growth ambitions. The completion of the investment follows I.T Limited’s shareholder meetings on April 16, where disinterested shareholders holding over 99.99 percent of shares voted in favor of the Scheme of Arrangement.
Photo courtesy BAPE
