Canada’s Joseph Ribkoff acquired by Novacap

By

Barbara Santamaria

Published
Dec 8, 2017

Canadian womenswear brand Joseph Ribkoff has sold a majority stake to private equity firm Novacap as it looks to accelerate its expansion into new markets.

Described as one of Canada’s leading designer brands, Joseph Ribkoff is a Montreal-based clothing business selling trend-driven designs for sophisticated, busy women. Since its inception in 1957, the brand has grown to become a global business with a presence in more than 64 markets

"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,” said company  founder Joseph Ribkoff. 

“We are convinced of Joseph Ribkoff's potential at the national and international levels,” added Novacap senior partner Domenic Mancini, who will become Joseph Ribkoff's new chairman.

“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."

Novacap said the transaction was financed by the Novacap Industries IV Fund, in partnership with the Fonds de solidarité FTQ, Joseph Ribkoff's founder and company executives.