With the rise of new luxury brands such as Mikoko Deluxe, Red Cotton Boutique, Diamond Couture and more, older luxury brands may just be getting their breakthrough. Birimian, the first operational investment firm dedicated to connecting African luxury and heritage fashion brands with international investors, has launched to accelerate the international emergence of African creators and designer brands.
Founded by an all-female executive team, Birimian is led by Laureen Kouassi-Olsson, a seasoned executive in the African financial services and private equity industries, alongside Michelle Kathryn Essomé, the former chief executive officer of the African Private Equity and Venture Capital Association, who will be the chief financial officer and head of investor relations.
Birimian will address the challenges associated with capital, production and international distribution faced by African designers, explained the investment firm in a statement, while establishing an “ecosystem of experts and professionals who specialise in value creation for independent labels and international brands”.
The first brands to join its portfolio are women’s apparel and accessories brand Christie Brown from Ghana, which has been worn by Beyonce and Alicia Keys, Loza Maléombho from the Ivory Coast that bridges traditional African aesthetics and contemporary fashion, womenswear brand Simone et Élise also from the Ivory Coast, and Belgium-based bag brand, Yeba.
New investment firm Birimian places spotlight on African luxury fashion
Birimian said that it will focus on providing long-term financing of brands in the company’s portfolio, investing between 30,000 and 3 million US dollars in brands and creative enterprises at incubation, acceleration and growth levels.
Alongside financing, brand consultation and coaching will be offered to ensure business processes and brand identity are in line with each designer’s goals, as well as strengthening of internal control and financial planning processes, and production and distribution capacity through strategic partnerships.
Birimian will implement expansion plans ensuring sustainable growth, both regionally and internationally, with investors tied in for a minimum of five years to ensure long-term support for partner brands, as well as international exposure for creative companies by optimizing the use of digital channels.
See more of Christie Brown’s work below.
Source: Full story fashionunited.uk
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