CVC Plans 50% Global Expansion of Street Wear Brand BAPE
- CVC targets increasing BAPE stores to 150 in five years
- Coronavirus has accelerated shift from formal to casual wear
A Shanghai store for Aape By a Bathing Ape, one of BAPE’s brands.
Photographer: Alex Tai/SOPA Images/LightRocket/Getty Images
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CVC Capital Partners is targeting a 50% growth in stores globally of street wear brand A Bathing Ape, betting that the transition to more casual wear will persist after the pandemic subsides.
The London-based private equity fund this week completed its takeover of the Japanese street wear label and now has its sights on the biggest overseas markets such as China, the U.S. and Europe. It targets growing the brand to 150 stores over the next five years, Yann Jiang, a director at CVC, said in an interview.