Joseph Ribkoff announces investments from Novacap, Fonds de solidarité FTQ and DNA Partners
by CM Staff
In 2019, the Company inaugurated a European manufacturing and distribution facility which complements its existing operations in Quebec where it carries out most of its design, manufacturing, and commercialization activities.
MONTREAL — Joseph Ribkoff, a designer, manufacturer, and international wholesaler of women’s apparel, announces a new round of investments from long term investors Novacap and Fonds de solidarité FTQ, and from new investor DNA Partners. This strategic infusion of capital, along with Scotiabank/Roynat Capital as new lender, demonstrates continued support in Joseph Ribkoff’s growth trajectory and provides the necessary resources for the Company to execute its ambitious vision for the future.
Joseph Ribkoff employs over 500 people across 40 offices and showrooms worldwide. It is present in over 3,400 retailers in over 60 countries. In 2019, the Company inaugurated a European manufacturing and distribution facility which complements its existing operations in Quebec where it carries out most of its design, manufacturing, and commercialization activities. The brand has bolstered by an initial investment from Novacap and Fonds de solidarité FTQ in 2017.
Under the leadership of Emmanuel Amzallag, who was appointed as CEO in early 2023, Joseph Ribkoff has invested in technology, and undergoing a strategic repositioning following changes in consumer demand resulting from the COVID-19 pandemic.
Dominic Mancini, Senior Partner at Novacap, stated, “We are enthusiastic about Joseph Ribkoff’s growth prospects and ability to leverage its globally renowned brand. Over the years, the company has built an influential brand presence in a key demographic and an impressive worldwide retail distribution network. This new investment positions Joseph Ribkoff to deliver on its brand vision and propel its global expansion and innovation roadmap.”
Echoing this sentiment, Emmanuel Amzallag, CEO of Joseph Ribkoff, highlighted the brand’s strategic priorities, “Our focus remains steadfast on delivering compelling collections that resonate with our diverse clientele, optimize our operations and better serve our partners globally, while cementing Joseph Ribkoff as a great place to work. This investment will significantly accelerate our efforts towards these goals.”
Moreover, Daniel Labrecque, Co-founder and CEO at DNA Partners, commended Joseph Ribkoff’s vision, strategic investments, and growth potential. “We are immensely impressed with the direction of the Joseph Ribkoff brand and are excited to bring our entrepreneurial expertise to help write the next chapter of the Joseph Ribkoff legacy. The company’s strengths are anchored in its values of Passion, Partnership and Persistence, combined with a genuine commitment to creativity and innovation. We are confident that our association will foster unparalleled growth and achievements for Ribkoff.”
