The amount of the deal was not disclosed. In conjunction with General Atlantic’s investment, Luis Cervantes, Martin Escobari and Andrew Ferrer will be joining Grupo Axo’s Board of Directors.
As part of this transaction, which is subject to customary closing conditions and authorization by the Mexican Antitrust Commission, Alsea, a Mexican multi-brand restaurant operator, will be fully exiting its position in the company.
Led by Co-CEOs Andres Gómez and Alberto Fasja, Grupo Axo operates more than 3,100 points of sale within major department stores and over 500 retail points of sale in both Mexico and Chile, and e-commerce platforms in both mono-brand and multi-brand formats. Within its portfolio, the group represents Abercrombie & Fitch, Bath & Body Works (with operations in México and in Chile), Brooks Brothers, Brunello Cucinelli, Calvin Klein, Chaps, Coach, Crate & Barrel, Emporio Armani, Express, Guess, Hollister, Loft, Kate Spade, Olga, Promoda (Mexico’s leading off price multi-brand outlet), Rapsodia, Reduced, Rewind, Speedo, Thomas Pink, Tommy Hilfiger, Urban Store, Victoria´s Secret Beauty & Accessories (with operations in México and Chile),Victoria´s Secret and Warners.
The investment will enable the company to drive its next phase of growth by enhancing its retail presence through its licensed brands, bringing more internationally prominent brands to the region, and continuing to expand its off-price business’s, Promoda’s, reach to consumers.