PARIS — Greek luxurious life-style model Zeus+Dione is about for development within the new 12 months following a strategic funding from personal fairness fund Halcyon Fairness Companions.
Monetary phrases weren’t disclosed. In an interview, Halcyon Fairness Companions managing accomplice Eleni Bathianaki characterised it as “a considerable minority” stake.
Chief government officer Dimitra Kolotoura cofounded the model in 2013 to raise Greek craftsmanship and protect the cultural, creative and artisanal heritage. Kolotoura wished “to create one thing significant,” she instructed WWD. The model takes its identify from the mother and father of the Greek goddess Athena, and seeks to convey collectively historic and fashionable components at an accessible luxurious value level.
With the present luxurious local weather battering established manufacturers, Bathianaki believes Zeus+Dione’s robust model id as a Greek home is a chance to face out.
“It’s an incredible alternative, as a result of basically it offers an untapped market to manufacturers that convey one thing totally different to the desk, manufacturers which might be related with historical past, with character, with craftsmanship, with sustainability, with true values,” she mentioned.
“With the decline of the luxurious trade, it’s the time to put money into a extra bodily method,” added Kolotoura. Clients will search out manufacturers with roots that may inform the story of how and the place an merchandise was made, she predicted. The Zeus+Dione merchandise are made within the nation, and the “overwhelming majority” of textiles are sourced inside Greece as nicely, they added.
The 11-year-old model is now designed by Marios Schwab, who joined as inventive director in 2021. Schwab has relocated from London to Athens to supervise the atelier and work with the greater than 80 native artisans that contribute to the road.
Kolotoura additionally collaborated with Dior’s Maria Grazia Chiuri for the resort 2021 assortment that was proven in Greece, who used her craftsmen for some items.
The corporate has supported the reopening of closed factories within the northern a part of Greece. “This has had an enormous social influence,” Bathianaki mentioned of native employment. “Customers must know, and we’ll make it possible for all of this footprint and all of the influence that the corporate has made will likely be communicated, as a result of it can be crucial.”
Zeus+Dione’s tenth anniversary runway present.
Yiorgos Kaplanidis / Courtesy Zeus+Dione
Zeus+Dione staged its first runway present final 12 months to rejoice its tenth anniversary. “That was like a catalyst,” Kolotoura mentioned. The well-received present spurred curiosity from a number of personal fairness funds earlier than she related with Bathianaki.
“I really like the truth that she is a girl in a male-dominated world,” Kolotoura mentioned. Bathianaki started her profession at Solomon Brothers and Morgan Stanley earlier than founding Halcyon Fairness Companions in 2022.
“Our private mission was really to put money into one of the best of Greece,” she mentioned of the fund’s mission. Halcyon is backed by the European Funding Fund, amongst others, and now has 190 million euros for rising firms from any sector. The fund units out to “establish these distinctive diamonds, one of the best of Greece throughout sectors, to put money into these founders and actually make these firms worldwide.”
She was a Zeus+Dione shopper earlier than she first contacted Kolotoura in 2023 and added that the corporate has a worthwhile monetary basis, with company transparency and governance at its core, and thus is nicely ready for development.
Seems to be from fall 2024.
Rene Habermacher / Courtesy Zeus+Dione
The model at the moment has a flagship in Athens, in addition to boutiques inside two of the 4 Seasons motels within the Greek capital, and is out there at 230 factors of sale worldwide. Increasing the retail footprint is on the horizon.
Zeus+Dione estimates the model can have 4 shops in Greece and one overseas by the second quarter of 2025. They’re eyeing Paris for that first worldwide location, as they’ve developed a loyal native clientele right here through the years.
“When you’re established in France, the place all the foremost manufacturers have been established, you are feeling that you’ve a robust seal of approval from a shopper’s viewpoint, but in addition from a enterprise viewpoint,” Kolotoura mentioned. “Then you’re able to go and take another steps. Paris will give us this primary worldwide step.”
Following Paris, the model plans to open shops in three extra new markets over the following 5 years.
The funding may even strengthen its omnichannel presence to faucet new markets outdoors of Europe, focusing on Asia, in addition to develop its homewares and menswear traces. The corporate plans so as to add new classes, and whereas specifics stay below wraps, Kolotoura hinted that it could possibly be within the hospitality house.
As a part of establishing Zeus+Dione as a world model, Bathianaki and Kolotoura need to entice worldwide expertise to Athens.
In one of many first strikes with Halcyon, the model has already employed three new executives, together with a chief advertising officer and a head of merchandising, to construct out their staff.
Collectively they’ve large ambitions, and Bathianaki will take a strategic adviser position.
“We’re working very carefully with the founders to essentially convey worth and create this roadmap of development that can basically triple the dimensions of the corporate in three to 4 years’ time,” Bathianaki mentioned.
A glance from fall 2024.
Rene Habermacher / Courtesy Zeus+Dione