We invest in companies in the premium and luxury goods sector. A brand is interesting for us when the essence of the brand can be clearly defined and when a stringent brand development strategy can be extrapolated.

The products have to enthrall us and their artisan quality must be exceptional. The product idea should demonstrate a unique selling point in its segment and should meet and exceed global brand expansion requirements.

Given the relevant business's development will have flat lined - perhaps stagnated - may be due to its financial imperatives or otherwise, it will urgently require new growth stimuli. This could be achieved, for the most part, by entering international markets.

To be able to influence the chosen business and product development strategy, we aim for majority or 100% acquisition with retention of key principals. This may also include staged investments in line with succession planning. Pursuant to our experience, we give preference to owner-managed, small and medium-sized companies in this respect.

Thus the focus is not only on the artisan quality but on businesses whose products have an international marketing potential and for which a global demand can be predicted, irrespective of the cultural character of the target countries.