L Catterton has acquired a controlling stake in JOTT, a French urban casual wear brand. No financial terms were disclosed.
PARIS and GREENWICH, Conn., January 28, 2021 – Just Over The Top (“JOTT”), one of the most successful French casual outerwear brands, today announced that L Catterton, the largest global consumer-focused private equity firm, has acquired a controlling interest in JOTT. The Gourdikian family, which founded and manage JOTT, will continue to hold a significant equity interest in the business.
Founded in Marseille in 2010, JOTT is a leading French urban casualwear brand offering functional, comfortable, and versatile clothes, most notably its distinct line of light down jackets. With significant brand awareness and visibility in France, JOTT currently distributes its comprehensive collections of casual outerwear and accessory products through a network of concept stores as well as wholesale clients. The brand has been a forerunner in the advent of the premium urban casualwear concept through stylish, high-quality, and affordable products that can be worn in multiple occasions, and is well positioned to accelerate its growth across Europe and Asia.
Patrick Gourdikian, JOTT President, said, “We are thrilled to partner with L Catterton to further develop JOTT as a leading omnichannel brand with an expanded footprint across Europe and Asia. L Catterton shares the same vision for JOTT and passion for building distinctive brands in the apparel segment. With L Catterton’s support and expertise in scaling and operating apparel brands globally, we will continue to capture JOTT’s strong brand loyalty among customers and drive our business through its next phase of growth.”
In conjunction with this announcement, Didier Lalance has been named CEO of JOTT. He brings nearly 30 years of management experience and a strong track record of growth at leading apparel and luxury brands, including Lacoste, Kering and ASICS.
Eduardo Velasco, Partner of L Catterton Europe, said, “Partnering with JOTT, its visionary founders, and staff is a fantastic opportunity to further develop one of France’s most iconic brands in the premium casual outerwear space. In just a few years, JOTT has become a leader in its market segment with distinctive and colourful clothing, and an efficient multichannel distribution strategy, which will all continue to be key pillars of its business model going forward. We are excited with Didier joining this amazing project alongside us to support JOTT’s future growth.”
Mr. Lalance said, “For more than a decade, the entire JOTT team has been committed to building a brand with the power to span across categories, geographies, and generations. I am excited to join the JOTT family and partner with L Catterton to expand the JOTT brand globally.”
L Catterton has significant experience investing in apparel brands globally. Current and past apparel investments include GANT, SMCP (Sandro Maje Claudie Pierlot), ba&sh, Sweaty Betty, GANNI, Charles & Keith, and Rhone, among others.
Founded in 2010 by two cousins, Nicolas and Mathieu Gourdikian, who sought to create the best light down jacket ever designed, JOTT is an inclusive brand that has developed quickly by combining comfort and style without compromise. The brand’s product designs are both functional and in line with today’s versatile way of life, catering to all occasions, ages and lifestyles. JOTT is distributed through 100 concept stores across France, Spain, Portugal, Benelux, Switzerland and China and is present in more than 1,000 point of sales globally. JOTT has become the category champion in the light outerwear jacket segment in France and is on track to become an iconic global brand. For more information, please visit justoverthetop.com.
About L Catterton
With over $22 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton’s team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. For more information about L Catterton, please visit www.lcatterton.com.