Eurazeo Brands found it’s next investment — backpack maker Herschel Supply Co.
Eurazeo has invested $60 million into the Vancouver-based company. Also putting in money was a consortium of investors that included Alliance Consumer Growth and HOOPP Capital Partners, the private capital arm of the Healthcare of Ontario Pension Plan.
WWD reported in September that the company was on the hunt for backers and working with J.P. Morgan.
Adrianne Shapira, managing director of Eurazeo Brands, told WWD Herschel has built a strong and profitable foundation and is successfully tapping into consumers’ growing interest in travel and experiences.
“They brought quality, craftsmanship, design and a badge to an otherwise predominantly functional accessory,” Shapira said.
Founded in 2009 by brothers Jamie, Lyndon, and Jason Cormack, the company has grown quickly from its base in backpacks and added luggage, headwear, accessories and apparel.
Shapira said those newer categories can be expanded on.
“There’s just so much more [to be done] in terms of travel, other silhouettes, small accessories, appropriately done apparel and hats,” she said.
The company also has a sizable online business and is venturing into retail — other avenues for growth.
Expect more from Eurazeo Brands, which is part of Eurazeo, a global investment firm with 17.7 billion euros under
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