TRIBECA FUND I INVESTS IN COMPAÑÍA ARGENTINA DE DISEÑO S.A.
- The Fund has acquired Etiqueta Negra, the leading clothing brand in Argentina.
- The agreement will stimulate the expansion of Etiqueta Negra into the US.
Bogotá, D.C., September 2007 – Tribeca Fund I, a private investment fund, announced that it has signed an agreement with Compañía Argentina de Diseño S.A., owner of the brand Etiqueta Negra, with the main objective of expanding that brand internationally. Under the agreement Tribeca acquires a 49% share in the Argentinean company, setting its sights on New York and Miami as its first international destination for expansion. Etiqueta Negra, meaning ‘black label’ or ‘black tie,’ is the leader in the high-end clothing segment in Argentina. Its leadership is reflected in both sales and in brand positioning, beating out well-recognized international competitors.
Etiqueta Negra’s internationalization project will implant a concept of Argentinean origin outside the country, and spread the knowledge of the product’s excellent quality by opening stores with the ambiance and concept that characterize the brand. Communications will be associated with the sport of Polo and the world of classic cars. To that end, the campaign will take advantage of the alliance with the La Ellerstina Polo Club (owned by the Pieres family) and with the brand Juan Manuel Fangio (through an agreement to be signed with the Foundation carrying that name), both from Argentina. According to Federico Álvarez Castillo, creator of and partner in Compañía Argentina de Diseño S.A., “the international market is a great challenge for us, to have the world connect with the Argentinean imprint through the design, quality, and style of our clothing.” … ”These funds will provide the investment necessary for this to happen …we want Etiqueta Negra to be recognized outside the country as a national symbol…”
The investment in the recognized Argentinean company is very important for the Colombian fund after having announced at the end of last August that it had reached investment commitments in the amount of 115.5 million dollars. This agreement “is clearly in line with the type of companies in which the fund invests: entities with recognized brands, growth potential, and a highly skilled team of directors, stated Luc Gerard, President of Tribecapital Partners S.A., the company that administers Tribeca Fund I, FCP.
About Compañía Argentina de Diseño S.A.
Compañía Argentina de Diseño S.A. is the controlling company for Etiqueta Negra. It was founded in 2003 by Federico Álvarez Castillo and Juan Cahen d´Anvers. It invoices USD 12 million yearly and in October this year it will open a new store in the Galerías Pacífico Shopping Center in Buenos Aires. It also has plans to develop a mega store in Patio Bullrich in 2009, where it will exhibit new product lines.
About Tribeca Fund I, FCP
Tribeca Fund I, FCP, is a Colombian private investment fund managed by Tribecapital Partners S.A. The fund has total investment commitments of 115 million dollars, with the participation of the main institutional investors in Colombia, especially the pension and severance pay funds of that country.