Want Les Essentials Sold to Canadian Entrepreneurs - Yahoo Finance
Want Les Essentiels has changed hands again.
The Montreal-based leather goods brand, which was founded by twin brothers Byron and Dexter Peart in 2006, has been sold to another set of brothers: Jean-Philippe, François-Xavier and Guillaume Robert.
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The Roberts are Canadian entrepreneurs who own Quartz Co., an outerwear brand also based in Montreal.
In 2017. The Peart brothers exited the Want Les Essentiels brand and sold their stake to their business partners and cofounders, the married couple Mark and Jacqueline Wiltzer, who operated the brand under their Mark Edwards Group. They made the deal with the Roberts, the terms of which were not disclosed.
The Want Les Essentiels product line includes bags, shoes and accessories that are sold on the brand’s website as well as at retailers in the U.S., Canada, Europe and Asia, including Bloomingdale’s, Assembly, Carbon38, Litchfield, Mr Porter, Farfetch and Liberty of London.
“Want Les Essentiels is a brand we have observed for several years with great respect. It stands out for its catalogue of exceptional flagship products, recognized worldwide, emerging from a rich creative universe that also integrates quality, responsible design, and functionality,” said Jean-Phillippe Robert, president of Quatz. “This acquisition allows us to consolidate our position in the premium clothing and accessories market.”
He went on to explain that the plan is to develop both Want and Quartz independently. “Under our vision, the two brands will be developed so that each can express itself clearly and freely. Even though Want Les Essentiels and Quartz Co. share a similar product design philosophy, each has its own DNA, which we intend to respect and value,” he said.
Quartz, which was founded in Québec in 1997, now sells winter coats at retail stores in 15 countries. It was acquired by the Robert brothers in 2015. Four years later, the entrepreneurs acquired Confection Bécotte of Victoriaville and Les Confections Stroma, a major clothing manufacturing facility that had been operating in Montréal for 50 years, allowing them to double winter coat production and triple the workforce. In 2020, the plant was expanded and new equipment purchased to produce gowns for health care workers fighting the COVID-19 pandemic. In September, they opened their first store in Montreal, which also includes a showroom, design studio and event space.
All three brothers are engineers, with Jean-Philippe Robert overseeing sales, marketing and product development, François-Xavier serving as chief operating officer, responsible for the company’s finances, and Guillaume overseeing production and procurement.
“I am convinced that Want Les Essentiels will continue to flourish thanks to the leadership of Jean-Philippe, François-Xavier and Guillaume Robert,” said Mark Wiltzer, managing partner of the Mark Edwards Group and cofounder of Want. “Their solid expertise in the fashion and luxury industry will allow them to propel the growth of this iconic Montréal brand, recognized all over the world.”
2021-06-02 18:39:24Z
https://finance.yahoo.com/news/want-les-essentials-sold-canadian-183924159.html
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