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Satisfy secures €11 million in funding to target €100 million revenue

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Roberta HERRERA

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January 24, 2025

Satisfy has redefined the intersection of fashion and running, establishing a distinctive niche over the past decade. Founded by Brice Partouche, formerly of April 77, Satisfy combines high-performance designs with a grunge-inspired aesthetic, catering specifically to long-distance runners. This ethos has shaped the brand’s business strategy, enabling the steady development of a meticulously curated global distribution network. Following an initial €2.5 million funding round backed by Bpifrance and notable investors such as Ian Rogers, Olivier Cantet, and Tony Fadell, Satisfy is now entering a new phase of accelerated growth. Antoine Auvinet, who officially joined the company as CEO at the end of 2024, has now told FashionNetwork.com the brand has successfully completed an €11 million Series B funding round. Auvinet talked about the ambitious vision for the French brand, which exceeded €10 million in revenue in 2024.

Antoine Auvinet, Satisfy’s new CEO – DR

FashionNetwork.com: You recently took on the role of CEO at Satisfy. Could you share more about your background and your goals for the brand?

Antoine Auvinet: I met Brice [Partouche, founder of Satisfy] and the team in February last year. A few months later, we started working together to build a business plan and secure funding. By the end of December, we closed a Series B round worth just over €11 million. My mission now is to shape and guide the team, bringing in specialists to cement Satisfy as a strong brand with a compelling community and message.

FNW: Satisfy is celebrating its 10th anniversary this year. What are your thoughts on its evolution so far?

AA: Over the past decade, Satisfy has achieved something remarkable by fully realising its creative vision and establishing a brand with real depth. It’s incredibly impressive.

FNW: Especially considering that the concept Brice developed—a fusion of running and high-end fashion—didn’t exist at the time.

AA: Exactly. Satisfy was ahead of its time, pioneering the hybridisation of sport and lifestyle. Now, we’re perfectly positioned to capitalise on that vision. The market is ready, and the brand’s maturity has aligned with this moment.

Satisfy’s Fall/Winter 24-25 collection – Satisfy

FNW: How do you plan to use the newly raised funds to fuel growth?

AA: Over the past year, we’ve expanded from a team of 20 to nearly 45 employees. This growth reflects a focused effort, particularly in hiring senior-level talent to drive our expansion and structure the organisation. We’ve created new roles in merchandising and built a network of agents. Crucially, we’ve recruited high-calibre profiles that startups usually can’t afford. For instance, Elliott Leppard, former CFO at Palace Skateboards, and Jean-Marc Djian, a leader in the footwear industry, have joined us. Siidaa Aberra, who joined before I did, has already streamlined our supply chain. These hires not only strengthen our capabilities but also bring credibility to our vision when presenting it to investors.

FNW: This is Satisfy’s second funding round. Given the current challenges in the sector, how did you convince investors to back the brand by injecting fresh capital?

AA: Satisfy’s appeal lies in its unique positioning at the intersection of sport and fashion. Securing €11 million in today’s climate is no small feat. This round brought together both existing investors who continue to believe in our vision and a new European investment fund specialising in lifestyle industries. Importantly, Brice remains the majority shareholder and creative director, ensuring the brand’s identity and authenticity are preserved.

Running takes centre stage in Satisfy’s growth strategy – DR

FNW: What are your growth objectives?

AA: Our fiscal year ends in February, and we’re on track to double our revenue year-on-year, reaching €11–€12 million. We’re confident we can maintain this momentum over the next two years, with the ultimate goal of multiplying our revenue tenfold within five years. The brand is still in its early stages, and we have the space and potential to scale up. Topping the €10 million mark was a significant milestone, and we’ve built a strong community of 250,000 Instagram followers, which enhances our visibility and momentum. Recently, we hosted a run in Paris—a long slow distance (LSD) session—on a Saturday morning at -1°C, and 250 participants showed up. It’s a clear indication of how deeply people connect with the Satisfy story.

FNW: How will you scale up without compromising the brand’s exclusivity?

AA: Coming from the fashion industry, I’ve seen many brands lose their essence by trying to appeal to everyone. However, some manage to retain the aura that resonated with people from the start. For Satisfy, this means unwavering dedication to product quality, innovation, and craftsmanship. Our range will always offer technical excellence and added value for athletes and pro runners. We’re deeply involved with our pro athlete teams and broader community, integrating their insights directly into product design and testing. Between €10 million and €100 million in revenue, the key challenge isn’t staying true to our values—it’s ensuring flawless execution.

FNW: What are your product and distribution plans?

AA: In July, we’ll launch our first trail running shoe, The Rocker. Footwear is a significant growth opportunity because, for most sports brands, it represents a larger share of revenue than apparel. Shoes also enhance brand visibility in retail environments. We’re also unveiling a women’s collection specifically tailored to female athletes, while maintaining Satisfy’s distinctive aesthetic. Additionally, we’ve introduced a climbing-inspired line that expands our narrative, allowing us to tell stories beyond running—such as what happens before or after a run. In terms of distribution, we’re fortunate to have relevance across multiple channels, including running stores, outdoor retailers, high-end boutiques, and department stores.

FNW: Are there plans to open standalone stores?

AA: While we’re continually optimising our e-commerce platform in multiple languages, we feel the time is right to explore retail. We’re currently evaluating a project to open 10–12 standalone stores over the next five years in culturally significant cities.

Satisfy will launch its first footwear model this year – Satisfy

FNW: How do collaborations fit with Satisfy’s strategy?

AA: Brice is in charge of creativity, and we’re always looking for interesting collaborations. In the past, we’ve had great success partnering with footwear brands. However, now that we’re entering the footwear market ourselves, we’ll shift our focus to new product categories. We already have several promising collaborations in the pipeline, but we’ll approach them selectively, ensuring they align with our brand story and ethos. Long-term partnerships that genuinely resonate with both brands are what we value most.

FNW: Satisfy already has an international presence. What are your geographic priorities?

AA: The U.S. is our largest market, contributing 40% of our e-commerce revenue. South Korea has recently become our second-largest market, and we’ll continue focusing efforts there. Europe, the UK, and Scandinavia are also key regions. Our e-commerce-driven model enables us to scale up efficiently across these markets.

FNW: What is the biggest challenge for Satisfy?

AA: Our main challenge is executing this ambitious growth plan effectively. We’re a tight-knit team that includes the founder and core members who have been with us from the start. The rise of sportswear as the new streetwear, now capturing the attention of luxury players, presents a unique opportunity for Satisfy. Our challenge is to seamlessly blend performance innovation with premium fashion while remaining rooted in culture and maintaining a bold, authentic perspective on running and performance.

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Fashion

German retailers see slower sales growth over consumer uncertainty

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January 31, 2025

German retail sales rose in 2024, but growth should be more modest this year due to the high level of uncertainty, according to retail association HDE.

Last year, retail sales rose 1.1% compared to the previous year in inflation-adjusted terms, official data showed on Friday. The HDE forecasts 0.5% growth in real terms this year.

“Consumption and the retail sector in Germany will not really gain momentum in 2025 either,” said HDE managing director Stefan Genth.
“There is simply too much uncertainty,” he said. “Wars, high energy costs and overall economic stagnation are a toxic cocktail for consumption.”

In nominal terms, retail sales rose by 2.5% in 2024 and are expected to grow by 2.0% in 2025, according to HDE’s forecast.

The latest HDE survey with 700 retailers shows that 22% of respondents expect sales to increase this year, while almost half of them expect results to be below the previous year’s level.

In December, retail sales fell by 1.6% compared with the previous month, official data showed. Analysts had predicted a 0.2% increase.

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John Lewis had disappointing festive season

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January 31, 2025

Many big names in UK retail had a good Christmas season — despite the sector being generally sluggish — but it seems John Lewis Partnership (JLP) may not have been one of them.

The retailer — which operates its eponymous department stores and webstore, plus Waitrose supermarkets — has missed its profit target after a disappointing festive season.

It hasn’t shared any info officially but internal documents seen by The Telegraph suggest bad news to come when it does release its results.

Those internal documents have only been shared with staff so far with the company saying that sales have fallen short of expectations and it’s unlikely to achieve its hoped-for £131 million full-year profit.

The company is said to have blamed “lower consumer confidence and weaker than expected market confidence” for the sales miss in the month to 21 December, although also the fact that key trading days fell outside the period.

Sales targets were missed at both of the firm’s chains, although the newspaper said it still claimed it outperformed rivals and staff should be “proud of our performance”.

It will be interesting therefore to see exactly what its figures were as  a number of rivals have actually reported a good Christmas. If its stores have beaten other supermarkets and chains like M&S, perhaps its targets were too ambitious in the first place.

We won’t know for a while, but we do know that with M&S resurgent, JLP’s supermarkets and department stores have lost some of their lustre as the destination of choice for Britain’s middle classes.

So what were the firm’s benchmarks? Back in September it had said it was seeing strong demand and expected a significant rise in profits for the year to January. The prior year’s pre-tax profit had been £56 million and the year before that it made a loss.

It had also talked about its turnaround efforts paying off and that it was seeing a “considerable improvement” in performance, with the John Lewis chain in particular expected to benefit from a buoyant second half.

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Kim Jones steps down from Dior menswear creative helm

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January 31, 2025

Christian Dior Couture announced on Friday that Kim Jones, its Dior Homme artistic director, is leaving the post after seven years.

Dior Men – Spring-Summer2025 – Menswear – France – Paris – ©Launchmetrics/spotlight

It’s been rumoured for some time that he would exit the label but it’s not yet known what his next step will be.

Jones has been widely praised for his work at Dior with his latest men’s collection shown this month being hailed as a success.

He’s been a key creative at LVMH having also designed its Fendi women’s collections. And he helmed Louis Vuitton’s menswear before he joined Dior.

The company said it “wishes to express its deepest gratitude” to the designer “who has accelerated the development of Men’s collections internationally and has greatly contributed to the worldwide influence of the House by creating an inspiring wardrobe that is both classic and contemporary, and connected to some artists of our time”.

And Delphine Arnault, who’s chairman and CEO of Christian Dior Couture, added: “I am extremely grateful for the remarkable work done by Kim Jones, his studio, and the ateliers. With all his talent and creativity, he has constantly reinterpreted the House’s heritage with genuine freedom of tone and surprising, highly desirable artistic collaborations.”

Jones meanwhile called it a “true honour to have been able to create my collections within the House of Dior, a symbol of absolute excellence. I express my deep gratitude to my studio and the ateliers who have accompanied me on this wonderful journey. They have brought my creations to life. I would also like to take this opportunity to thank the artists and friends I have met through my collaborations. Lastly, I feel sincere gratitude towards Bernard and Delphine Arnault, who have given me their full support.”

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