Luxembourg, December 12, 2023 – Founded this year by David Wertheimer, 1686 Partners has just completed its first closing of over USD 110 million for its investment strategy dedicated to the lifestyle sector.
Building on his initial successes through a partnership with Mirabaud Asset Management in 2020 (EUR 115 million in commitments, 18 portfolio companies and 2 exits completed), David Wertheimer is now launching his own franchise, 1686 Partners, to best implement his disruptive and comprehensive vision for companies in the sector that can meet the codes of tomorrow’s consumption.
The goal of this new vehicle is to identify, support, and accelerate the transformation and growth of innovative companies in the fashion, cosmetics, and broader lifestyle industry, ultimately making them global industry leaders. This involves leveraging technological innovations, the use of sustainable materials, the development of new business models, and the establishment of more eco-responsible distribution channels.
Beyond managing its portfolio, 1686 Partners also aims to bring together strategic, institutional, family, and international investors around this common project. The objective is to create a unique and exclusive exchange network that can generate numerous opportunities, both in terms of co-investment and synergies between portfolio companies and investors.
Driven by the millennial generation and the growing influence of Asia, the globalized and connected middle class, increasingly concerned about the planet and defining itself by its own consumption codes, is completely revolutionizing today’s brands and businesses. The offerings, economic models, and operational methods of many companies in this universe must evolve to face these new challenges, especially in terms of distribution, consumption patterns, technology, responsible production, traceability, and access to raw materials.
In addition to providing the necessary capital for their development, 1686 Partners will actively support its portfolio companies in integrating an ambitious ESG charter and share expertise in marketing, management, distribution, and innovation to accelerate their growth potential.
Asked about this new long-term project, David Wertheimer declares, “Our ambition to have a global impact on the lifestyle industry was born a few years ago and rests on two main pillars: continuing to innovate, taking into account all the aspirations of the new generation, and developing new concepts, new brands that will meet the needs of tomorrow’s consumers. It is important to participate proactively in the transition of the economy towards greater sustainability. This new vehicle will allow us to go further and have even more impact with larger capital thanks to investors who are even more committed to a project that goes beyond the purely financial logic.”
The first three participations initiated in 2023 by 1686 Partners include: a major European ski clothing brand with a strong fashion-lifestyle focus, a global leader in the sale and evaluation of new and secondhand luxury watches, and an innovative player with disruptive artificial intelligence-based technology, specializing in dynamic stock management and demand forecasting for major international brands and retailers.
