Exclusive: Armando Cabral Secures Minority Investment as Brand Doubles Down on Expansion Plans
Armando Cabral has secured a new investor.
According to the model-turned-footwear designer, he has received a new strategic minority investment from Genesis Luxury and Brands (GLB), a member of the Abidjan, Côte d’Ivoire-based Genesis Group. Terms of the deal were not disclosed.
This isn’t the first time GLB has teamed up with Cabral. According to the shoe designer, the brand management firm helmed by chairman Charles Kié has assisted Cabral on executing his growth strategy over the past 18 months – helping to launch the label’s first extension into apparel last year.
This new round of investment, however, marks a new beginning for the duo as a joint endeavor, with further expansion plans in the works. This includes broadening assortments within footwear and apparel collections, expanding distribution channels, and introducing a home line, according to Cabral.
Additionally, the company’s Mercado retail concept, which combines Armando Cabral-branded items with third-party products from African designers, will see new locations opening in the coming months.
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“Our collaboration with Charles and the GLB team since 2022 has been immensely rewarding,” Armando Cabral, founder and creative director of his eponymous luxury lifestyle brand, said in a statement. “The fusion of my creative vision with GLB’s expertise has enabled us to evolve in new directions.”
Kié added, “Our partnership with Armando Cabral exemplifies our dedication to nurturing diverse and innovative luxury brands. We are excited about the opportunities that lie ahead.”
This news comes just one month after Cabral opened the doors to his freshly relocated NYC store at 620 Fifth Ave. in the Channel Gardens at Rockefeller Center.
Cabral told FN in an interview at the time that the new shop is all part of his brand’s evolution that began in 2023. Last year, the entrepreneur outlined several additions to his offering including extended sizes in his footwear, a fragrance in collaboration with D.S. & Durga and a range of made-in-Portugal shirts produced in partnership with menswear designer Todd Snyder.
The assortment is set to grow once more, Cabral hinted. “We will be launching into more home products with a special collaboration in the fall,” he teased last month.
Cabral’s personal journey mirrors the global essence of his brand. Born in Guinea-Bissau, raised in Portugal, and educated in London, he embarked on a successful modeling career before founding his footwear brand in New York in 2008.
“With GLB’s backing, we are poised to redefine luxury and showcase the richness of African creativity worldwide,” Cabral added.
