Friday, June 05, 2015

Olympia Le-Tan Raises $1.1 Million From French Investment Group

Olympia Le-Tan Raises $1.1 Million From French Investment Group:

Michelle Williams carrying an Olympia Le-Tan clutch. Photo: Dimitrios Kambouris/Getty Images
Michelle Williams carrying an Olympia Le-Tan clutch. Photo: Dimitrios Kambouris/Getty Images
Olympia Le-Tan, the French women's ready-to-wear and accessories label best known for its $1,500 clutches shaped like book covers, announced on Thursday that it has received a €1 million (about $1.1 million) investment from French private investment firm Audacia.

A spokesperson for Audacia declined to say how much of a stake it had taken in Olympia Le-Tan, but did add that the company generated €3 million (about $3.4 million) in sales last year, 90 percent from international clients. The funds will be used to expand the label's commercial and creative operations.

Olympia Le-Tan began as an accessories label, started in 2009 by Le -Tan herself and Grégory Bernard. In 2012, the company expanded into ready-to-wear, producing two collections per year. It currently has a store at Le Palais Royal in Paris and has more than 100 points of sale worldwide — a number, we imagine, that will soon climb.

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