NOVACAP has acquired Joseph Ribkoff, one of Canada’s leading fashion designers, present in more than 64 international markets. The investment represents NOVACAP’s first foray into the women’s ready-to-wear sector.
NOVACAP Industries IV acquired a majority stake in partnership with Fonds de solidarité FTQ, founder Joseph Ribkoff and company executives.
“Joseph Ribkoff is a Quebec company that has experienced strong growth in recent years and is present in several international markets, said NOVACAP senior partner and Joseph Ribkoff’s new chairman of the board, Domenic Mancini. We are convinced of Joseph Ribkoff’s potential at the national and international levels. The company is ready to move up to a new level and, as we have done many times in the past, our intention is to provide the necessary financial support in order to accelerate the company’s growth and expansion into new markets.”
The Joseph Ribkoff Company was founded in 1957 by the person which bears its name, when he was only 21 years old. Over the years, it has become one of the leading women’s ready-to-wear brands in the Canadian market. Now present in over 64 international markets, it has adapted to new platforms, while remaining true to the multiple needs of contemporary women.
“We are operating in a highly competitive market, and while our growth has been strong over the past five years, we will benefit from NOVACAP’s financial backing, expertise and network to continue to grow and consolidate our leadership position says company founder Joseph Ribkoff. This transaction will not change our day-to-day operations, and we will continue to develop, as we always have, the best ready-to-wear collections and provide the best service to our customers through the continued commitment of our employees.”
“Since its creation 60 years ago, Joseph Ribkoff has been able to constantly adapt to the needs and tastes of consumers, as demonstrated by Its presence today on international markets. Our investment in this flagship of the Quebec fashion sector demonstrates the Fonds de solidarité FTQ’s desire to support the growth of Canadian companies in international markets,” commented Jean Wilhelmy, Senior Vice President, Natural Resources, manufacturing and services, Fonds de solidarité FTQ.
photo credit: Joseph Ribkoff
- Fairfax controlled Boat Rocker Media files for IPO on TSX - February 12, 2021
- DRI Healthcare Trust files for US $400M IPO and con-current private placement - February 10, 2021
- Fairfax controlled Farmers Edge files for $100M IPO on TSX - February 9, 2021