The chief executive of Dutch LLC, owner of contemporary brands Equipment, Current/Elliott and Joie, has set out ambitious expansion plans, including doubling EBITDA in the next three years.
Speaking exclusively to Drapers following the sale of a 60% stake in Dutch LLC to US private equity firm TA Associates for an undisclosed sum, Serge Azria said the growth would come from a combination of expanding the company’s standalone store network, growing online sales and increasing wholesale stockists.
“I’m confident we can achieve this level of growth as we’ve been growing consistently every month for the last five years,” he said. “Already in the first quarter of 2013 we are 20% to 25% ahead of this time last year.”
Azria added that the investment from TA Associates would help to make the business “even stronger”.
Dutch operates nine standalone stores across its brands and is due to open two stores, for its Equipment and Joie brands, in Connecticut in the US in the next two weeks. Azria plans to have 14 or 15 stores open by the end of this year.
He also hopes to increase online sales from about 3% to 4% of total sales to 10% by the end of this year.