21 Concordia, the Polish private equity firm of 21 Partners, has acquired 66% in two companies, Red Rubin sp. z o.o. and Q Diamonds sp. z o.o., one of the leading Polish groups manufacturing and distributing high quality jewelry products, which operate a network of own specialist jewelry shops under Red Rubin and Minty Dot brands across major Polish cities.The business was founded by Anna Brzozowska and Jakub Lasocki in 2000. It offers a wide range of own-design and third-party products, including fashionable Minty Dot range, comprising silver, gold and precious stones. The companies sell rings, bracelets, necklaces, earrings, pendants and jewelry accessories. Both brands are offered via the online channel. In 2015, the companies sold more than PLN 12 million worth of goods.Jakub Lasocki, the co-founder, will remain in his CEO position and will hold 34% share of both companies.21 Concordia’s strategy is to grow the companies’ scale by:- organic roll-out of own and possibly franchise stores across Poland- investing in e-commerce development- exploring international expansion through targeted distribution.The expansion will be financed by a new capital provided by 21 Concordia. Furthermore, the Fund will support the Management team in adapting the organization to the planned growth.André Mierzwa, Managing Partner of 21 Concordia commented: “Red Rubin and Minty Dot are well-established brands in the Polish jewelry market. The combination of genuine design, brand positioning and after-sales service creates a perfect mix for the customers. We are attracted by good prospects of the Polish luxury segment and plan to support the Management team in scaling up the business by providing new capital and professional advice.”“We have chosen 21 Concordia as our financial investor because of their experience in the retail sector and the ability to create common vision of growth with private entrepreneurs. We feel that this partnership will benefit our business in years to come.” – said Jakub Lasocki, CEO of Red Rubin sp. z o.o. and Q Diamonds sp. z o.o.
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