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Lole - New Ownership and New Markets

May 15, 2014

In early May, ladies activewear specialist Lole made a blockbuster announcement that an investment group led by Bernard Mariette, CEO & President of Coalision Inc has purchased a majority interest in Coalision. The new ownership group includes some very high profile backers - Simon Equity Partners, (the private investment arm of Simon Property Group), members of the Hermes family, the Desmarais Group (owners of Power Corporation of Canada & La Presse) and the Fonds Solidarite FTQ.

The new investment will enable Lole to expand its retail and e-commerce business internationally, as well as its global wholesale business. Mr. Mariette stated that ’This strategic financial transaction represents a turning point for Lole as it confers upon us the network, the expertise and the financial strength to compete worldwide with major players in the industry.’ In the last 3 years alone revenues have grown by over 130%. 

With respect to its retail expansion, Lole’s plans are aggressive. Fifty (50) new openings are forecasted during the next five (5) years. In this regard, the company just confirmed that it will open a new store in trendy, upscale Soho fashion district in New York City. The boutique is located at 112 Mercer Street . A June opening is scheduled.

Further to the above, in July, Lole will open in Whistler; this will be the company’s first store in British Columbia. Lole also just finalized an agreement for McArthur Glen’s upscale designer outlet in Vancouver, which is scheduled for a fall 2016 opening. In addition, the company will open 2 (more) boutiques this summer in Ontario. The first with Simon Property Group at Toronto Premium; the second Ontario location will open at Square One (Ontario’s largest shopping centre). 

Going forward, Lole has forecasted 5-6 Canadian opening for 2015. Markets of interest include Calgary, Toronto and Vancouver. Size required is 1250-1500 square feet. The company’s preference is to open on downtown high streets and super regional shopping centres.

For additional information on Lole, please visit their website at www.lolewomen.com.