Growth investor Rami Cassis makes move into luxury fashion with Hervia acquisition
International growth investor and founder of Parabellum Investments, Rami Cassis, has made his first move into the luxury fashion market with the acquisition of Manchester-based Hervia.
Cassis plans to expand the business, which is noted for selling directional designers such as Raf Simons, Maison Margiela, Rick Owens, and Yohji Yamamoto, by striking up new designer partnerships and investing in its online presence. It is also considering a move into childrenswear.
Founded in 1993 by Oscar Pinto-Hervia, who retains a stake in the business and remains as CEO, Hervia operates an international online business as well as a flagship store, Hervia Bazaar, in Manchester. The Manchester store is known for being the first retailer to stock debut collections from the likes of Alexander McQueen, Helmut Lang and Hussein Chalayan, among others. It also operates the Adidas Y-3 flagship store in Mayfair, London, which forms part of the deal.
The deal was made through Cassis’ private family office, Parabellum Investments, and is his first in the fashion industry. Cassis has held a number of executive positions and has grown a portfolio of investments across a range of sectors spanning enterprise software, technology, and energy.
Cassis has said he plans to diversify heavily into the luxury market over the next 12 months and said he was attracted to the strong growth potential of the UK’s fashion sector.
“I’ve always had a strong interest in fashion, so this is a great opportunity to pair my business expertise with a personal passion.
“Hervia has a rich legacy as a brand and strong foundations as a business, and our ambitious plans are based on driving future organic growth as well as exploring new acquisitions for Hervia. I look forward to investing in the business from top to bottom, including improving the customer experience, entering new segments of the market, and adding to an already excellent team.
“Oscar has created an amazing business and has a natural eye for fledgling industry talent, and he’ll remain a core part of Hervia’s DNA. His vision around sourcing and encouraging young British designers will help us continue discovering the best emerging designers and up-and-coming brands to partner with," Cassis said.
Pinto-Hervia added: “It’s an exciting time for Hervia as we look to onboard fresh, new brands and open additional stores. I was struck by Rami’s enthusiasm and his growth plans for Hervia align with our ambitious vision for the company. His strong track record of leading and managing companies ensures he’s a great fit to take us forward into the next phase of expansion.”