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Woman in a wedding dress

Investment Year:2017
Transaction Value:€532m


Pronovias is the leading global Bridalwear brand with a unique and highly differentiated market position, and was acquired by BCEC X in October 2017.

With over 50 stores, c. 60 franchisees and over 3,300 POS globally, the company is the no. 1 brand across most European countries.

Investment Thesis

  • Resilient niche market with attractive characteristics: Large addressable market across Europe and North America; highly defensive and stable; and the online channel remains peripheral.
  • High barriers to entry: Brand, marketing firepower, and best-in-class logistics and service capabilities remain the key pillars of the bridal industry.
  • Leading brand with global presence and scale advantage: Pronovias remains the only global player in the industry with a a very strong relative market share, and the highest brand awareness.
  • Meaningful organic growth levers: Sizeable opportunity in the mid‐price segment (€1k‐1.5k range) where Pronovias rebranded and relaunched; North America’s potential also validated; and further momentum in APAC region with new openings across the region.
  • Natural aggregator in a very fragmented market: Larger pipeline of potential build‐up opportunities than expected; Nicole acquisition is a great addition to the Pronovias group and will generate substantial synergies.