LONDON — Stephanie Phair, recently named a senior adviser at L Catterton, the LVMH Moët Hennessy Louis Vuitton-backed private equity firm, has taken up the role of president at A.P.C., WWD has learned.
She succeeds Pierre-Arnaud Grenade, who departed the French fashion brand founded by Jean Touitou in November.
Phair is best known to the fashion industry for her role as the chair of the British Fashion Council between 2018 and 2022. She also served as the group president of Farfetch and executive chair of New Guards Group until May 2024.
Sources said Phair will remain a senior adviser at L Catterton, while working as president at A.P.C. She will continue to apply her operating expertise and knowledge across consumer categories to support the private equity firm’s portfolio companies globally.
Since its founding in 1987, A.P.C. has established a strong cultural presence, forging collaborations with brands including Lacoste, Carhartt, A Bathing Ape and Sacai. But the brand was severely hit by the COVID-19 pandemic, and Touitou said he was ready to hand over the reins to a partner with solid financial resources.
L Catterton acquired control of A.P.C. in March 2023 with plans to strengthen the brand’s close connections to the worlds of art and music.
At the time of the acquisition, L Catterton said A.P.C. had revenues of just over 100 million euros. Eduardo Velasco, a partner in L Catterton Europe, told WWD that the figure could be five times bigger.
Last year, L Catterton, which holds a 72.98 percent stake in the brand, recruited Grenade for A.P.C., betting on the winning model of growth coupled with CSR transformation that characterized his prior tenure at Ba&sh.
He was recruited as chief executive officer of Ba&sh when L Catterton invested in the French contemporary label in 2015. Over the next seven years, Ba&sh’s revenues multiplied by seven times to reach more than 320 million euros in 2022, when L Catterton sold its majority stake to private equity firm HLD Group.
According to market sources, under Grenade’s leadership, A.P.C. continued to face significant financial difficulties, and he stepped back from daily operations in early October.
Earlier in Phair’s career, she held roles in communications, marketing, and business development and worked at American Vogue on initiatives such as the launch of the CFDA/Vogue Fashion Fund and the annual Metropolitan Costume Institute Gala.
She made her first foray into e-commerce in 2005 with Portero, the pre-owned luxury marketplace. She was later named president of The Outnet, which she launched in 2009, and she also sat on the executive board of Net-a-porter Group from 2009 to 2015.
In 2018, Phair succeeded Natalie Massenet as chair of the BFC. During her tenure, she worked closely with former BFC CEO Caroline Rush, helping the British fashion sector navigate Brexit and the COVID-19 pandemic.
She was recognized with the OBE, Officer of the Order of the British Empire, in the Queen’s Birthday Honours List, for services to fashion and technology, in 2022.
Phair has been an adviser for venture capital firm Felix Capital since 2016, and she served on the board of Moncler between 2016 and 2022.
This past January, she also took up the role of executive chairman at Invisible Dynamics, a brand consultancy firm founded by Oli Walsh with clients including Phoebe Philo, Theory, Gap, Beyond Yoga and Nike.
