Public Clothing Co. buys Mansur Gavriel outright for an undisclosed sum

Public Clothing Co. has acquired Mansur Gavriel outright, closing the deal on Tuesday. Founder and chief executive Dan Shamdasani confirmed the purchase but declined to say what he paid for the entire brand, which had been majority-owned by GF Capital Management and Advisors since June 2019.

The founders' future is unresolved. Rachel Mansur and Floriana Gavriel, who started the label in 2013 and still serve as co-creative directors, are in talks about staying. "Things have been moving really fast. We are in talks with them," Shamdasani said. "More to come."

Shamdasani said he did not invest in the business but is buying it outright. "They were owned by private equity. The plan is to really take over and invest in it," he said. The spring 2027 line is already underway, designed jointly by the brand's team and the two founders.

Whether the co-creative directors remain has not been settled. "I would assume the founders would love to be part of the brand," Shamdasani said. "We haven't had a chance to really sit down and talk about it." Neither Mansur nor Gavriel could be reached for comment.

Mansur Gavriel, a luxury label with a minimalist aesthetic that we list among our company pages, launched with the now-emblematic bucket and tote bags and currently makes handbags, footwear and small leather goods. Production will stay in Italy for handbags and in Italy and Portugal for footwear.

The defining element that drew Shamdasani in is the direct-to-consumer channel. Over 65 percent of the business runs through the brand's own website, which he called very successful internationally as well. "It's rare to find a brand with a clear message," he said, attributing that to long work.

"Rachel and Floriana built something rare: a clear design identity and customers who genuinely love it," Shamdasani said. "We're here to invest in the brand and help it grow. Spring 2027 is underway and we'll share more about what's next in the coming weeks."

He said the company had been watching the brand for a while. "We find that it's one of the defining accessory brands of the last decade," he said. The brand's designs are minimalistic, clean and architectural in shape, and have a loyal following.

Mansur and Gavriel met in Los Angeles in 2010 as strangers at a concert, then met again the next day. Mansur had studied textiles at the Rhode Island School of Design, while Gavriel studied fashion design and photography at the University of the Arts Bremen in Germany.

They began collaborating with Mansur in Los Angeles and Gavriel in Berlin, turning to the label full time in 2012 and launching into stores in the summer of 2013. Within three years the brand won two CFDA awards: the Swarovski Award for Accessory Design in 2015 and Accessories Designer of the Year in 2016.

Asked whether the business had fallen on hard times, Shamdasani pushed back. "I wouldn't say hard times. I mean, as business ebbs and flows, we found an opportunity for us," he said. The brand has had freestanding stores in the past but currently operates none of its own retail locations.

What the deal changes

Chief executive Maria Borromeo, who took the role in 2023 after Isabelle Fevrier, will work through the transition but her own future is undecided too. Shamdasani said they are working very closely together and figuring out how to take the brand forward, without confirming whether she stays.

"I've worked very closely with Dan and the PCC team throughout the transition and am excited about this next chapter," Borromeo said. "PCC clearly values the unique heritage of Mansur Gavriel and understands the brand's potential. I'm very confident in what the brand can achieve with their support."

Borromeo's mandate since 2023 has been to tighten the product assortment, lift profitability and return the label to its foundational values and DNA. The brand sells at mansurgavriel.com and through select retailers including Bloomingdale's and Nordstrom.

Public Clothing Co.'s portfolio also includes the Derek Lam Collection, designed by Robert Rodriguez. Shamdasani said the company is looking into setting up a showroom for Mansur Gavriel, and pointed to the group's strong logistical back office as an asset for the integration.

The acquisition moves Mansur Gavriel out of private equity ownership nearly seven years after GF Capital took its majority stake, with the founders keeping a minority interest until now. The founders, the chief executive and the spring line all remain open questions.

Shamdasani struck an optimistic note about the handover. "I'm really looking forward to it," he said. "What Rachel and Floriana have done is built something really rare. I mean they found a clear design identity." More details are promised within weeks.

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Image: Courtesy of Mansur Gavriel