Double-digit growth and European expansion: French fashion brand Patine begins new fundraising

Business

Charlotte Dereux, founder of the Patine brand. Credits: Patine.

400,000 euros. This is the amount needed by a young fashion brand already established on the French market to pursue international development. This brand is called Patine, its founder Charlotte Dereux, and its successful trajectory is almost reminiscent of that of a UFO, so much does it stand out in the landscape of a clothing market, now fractured between ultra-fast fashion and luxury. To continue its momentum, the brand is now starting a new fundraising round.

In 2017, Charlotte Dereux launched the women's brand Patine online in an 80s and 90s spirit, and accompanied it with a strong ecological conscience that is translated concretely in the transparency of its product sheets. The collection is small but solid. It is structured around the famous so-called "timeless" pieces: jeans, t-shirts, shirts. And to limit stock problems, the company uses a hybrid model, combining permanent products and pre-orders. An operation shared by another successful French brand, Asphalte.

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Today, the Parisian company is recording 25% growth (2024 financial year) and while other of its peers, such as Salut Beauté, have had to stop their activity, it is continuing its journey and announcing a new fundraising to ensure its deployment in Europe.

"We made the choice three years ago to open up our capital for the first time and to become a brand co-financed by its community," we can read on the dedicated web page. "531 of you subscribed to Patine shares in 2021, including 70% of women who now own a small piece of our brand." Thus, after having completed a fundraising of 600,000 euros in 2022, the brand is opening up its capital again and is aiming for 400,000 euros.

Charlotte Dereux, fondatrice de la marque Patine. Credits: Patine.

On the investment page of the Lita website, the company provides indicators of increasing performance: "increase in the average basket, maintaining a very good level of gross margin, reduction in the return rate to less than 15% and a stable repurchase rate at 58%". In addition, Patine is mainly distributed online, via its e-commerce site, but also has a corner at Galeries Lafayette and a studio open to its customers by appointment. Physical retail is, however, part of future projects.

Three stores are expected to open in Europe within the next five years. “The countries have not yet been decided, several options are compatible with our brand DNA and the beliefs, style and lifestyle of the Patine Girls / our customers,” Charlotte Dereux explains in an email to FashionUnited. But the week of exploration spent in Copenhagen (where Patine was invited by the French Institute of Denmark with 10 other responsible fashion players during Fashion Week) inspires the team with a certain preference for Northern Europe.

Finally, the Patine team (the founder, two partners and four employees) intends to expand. “We plan to recruit 15 people by 2029,” announces Charlotte Dereux.

This article originally appeared on FashionUnited.FR, translated and edited to English.

It was translated using AI. .

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