Spanish retailer El Ganso will open at least 10 more stores in the UK over the next few years following the sale of a 49% stake in the business to LVMH-backed investment fund L Capital.
El Ganso, which expects its revenues to top €70m (£52m) by the end of 2015, has 90 stores in Spain and 10 internationally, including four in the UK.
“We have a good business in Spain and we want to reproduce that in the UK,” El Ganso’s head of marketing Beatriz Romero told Drapers.
Its UK stores are located in London, on King’s Road, Neal Street, Carnaby Street and in Westfield London.
“London is our first aim because we think it has the most potential for us, but after we hope to be in other cities like Manchester and Liverpool,” said Romero.
“While our initial plans are to add an extra 10 stores over five years, if the market in the UK keeps growing as it is, we will keep growing with it and will continue to open more as we have here in Spain.”
The undisclosed investment from L Capital will also be used fund its expansion in the rest of Europe, Latin America, the US and Asia over the next five years.
El Ganso was founded by Clemente Cebrián Ara and his sons Alvaro and Clemente in 2004. It sells clothing for men, women and children, alongside footwear and accessories. Its holding company Acturus Capital sold the stake to L Capital on October 12.
L Capital owns stakes in a number of fashion brands, including Pepe Jeans, Hackett, Sandro, Gant and Seafolly.