Gaydoul Group acquires a majority stake in exclusive sportswear ...

Media release
Gaydoul Group acquires a majority stake in exclusive
sportswear label Jet Set
The Gaydoul Group is acquiring a majority capital stake in the Jet Set
Group from its owner Peter Kappler. The Jet Set Group has operated in the
top segment of the exclusive sportswear market for more than 40 years.
The cult brand, best known for its winter sports fashions, is an ideal
addition to Gaydoul Group's portfolio of lifestyle investments, which
includes the brands Navyboot and Fogal. Peter Kappler is remaining with
the company as a shareholder and Managing Director. The parties have
agreed not to disclose any information about the purchase price.
"Jet Set is a hot brand with a lot of potential. It fits perfectly into our small group
of investments in exclusive brands. Together with Peter Kappler, we will continue
to develop Jet Set and build it up into a leading international brand in the luxury
sportswear market. With Navyboot, which concentrates on shoes and
accessories, and Fogal, which specializes mainly in high quality hosiery, we
already have valuable know-how in the premium lifestyle fashion sector," said
Philippe Gaydoul, Chairman of the Board of Directors of the Gaydoul Group, at a
press conference in Zurich.
Peter Kappler, who has sold his majority stake in Jet Set to Gaydoul Group,
added: "Philippe Gaydoul and his private equity group are the ideal partners for
us. We know we can trust them and we know that their commitment is not just
financial. They will also be investing their entrepreneurial experience in the
business for the long-term. Their valuable support will allow us to exploit the full
potential of the Jet Set brand. The course has been set in such a way that the
brand can break out of its niche at any time and move into new product areas."
Following constructive negotiations, Gaydoul Group has agreed to buy a majority
stake in Jet Set from Peter Kappler. Jet Set currently generates sales of around
CHF 20 million. It enjoys high brand awareness and has its own unique niche in
the luxury sportswear segment – the fastest growing part of the fashion market. It
is a genuine cult band. Jet Set's main markets are Switzerland, Austria,
Germany, the USA, Italy and France. The brand was created in 1969 and it has
made its name in the uppermost segment of the market mainly thanks to its
trendy, high quality ski suits for men, women and children. Many international film
stars and top athletes wear Jet Set.

Jet Set currently has its own stores in St. Moritz, also home to its head office,
Arosa, Davos and Zurich. Partners in Kitzbühel, Cortina d’Ampezzo and Crans
Montana offer the Jet Set range through a franchise system. The company's
collections are also available at more than 150 retailers around the world. The
main sales partners are located in exclusive winter resorts like Aspen, Vail and
Zermatt.
The Gaydoul Group and Peter Kappler have set themselves the goal of exploiting
Jet Set's huge brand potential by making it even more well-known and
implementing a targeted expansion. In strategic terms Jet Set will be further
developed as a sought-after international brand. Plans include expanding the
summer collection and re-launching the designer jeans line "Blue System". "Jet
Set has the potential to become a significant addition to the Gaydoul Group's
brand portfolio," said Philippe Gaydoul.
Bäch/St. Moritz, 2 February 2010
Contact:
Gaydoul Group and Jet Set:
Joerg Neef
Hirzel.Neef.Schmid.Konsulenten AG
Tel.: +41 43 344 42 42
E-Mail: joerg.neef@konsulenten.ch