Jason Schmitt

As we move through 2025, Bain's latest PE report continues to resonate. Deal activity is slowly rebounding, but exits are still a challenge - making value creation the main focus across the board. In retail, that means the bar for investment has never been higher. PE firms are prioritizing: - Clear operational improvements (not just top-line growth) - Proven customer value propositions - Prudent working capital and inventory management For retailers looking to attract capital or prepare for an exit, focusing on operational discipline and market positioning is non-negotiable. When market volatility subsides, the capital will be there - but it will flow to the businesses that are ready. https://lnkd.in/e6KZYiSZ

16

1 Comment

Earlier this month, Bain Capital announced plans to acquire FineToday from CVC who previously spun the business out from Shiseido in 2021. While we focus on partnering with emerging brands at Selva Ventures, it's interesting to see how more mature businesses in the space trade and evolve. A few thoughts below: - This deal reflects continued sponsor appetite to play in beauty (likely given the high margins / how profitable these businesses can be). - It doesn't sound like a stellar outcome for CVC -- a tougher public market over past few years likely impacted their ability to get liquidity. As the market seems to be opening back up, perhaps Bain sees an opportunity to take the company public in the coming years. - I know less about the Asia market, but 10% growth for a PE backed company of that size seems pretty good -- I'm sure profitability was strong too. The beauty landscape is becoming increasingly global. - Overall, some mature beauty assets that don't necessarily have a strategic home still have value. Private Equity is trying to capture that value with the hopes that these businesses can continue grow, be strong cash engines, and eventually IPO. https://lnkd.in/gQKnJbdS

54

1 Comment

I spoke with Christien Louviere of BDE Capital about his journey from a $330mm exit to becoming an independent sponsor. Christien shared excellent insights for folks looking to partner with business owners, rather than buy sellers out completely. Below are a few of the topics we covered: - Why he moved from “zero-to-one” startups to a buy-then-build strategy - How Christien's background shaped a focus on growth vs. cost-cutting - Why 20–40% rolled equity is central to his deal structures—and how it builds trust with sellers - Using scenario analysis with AI tools to evaluate management teams and uncover hidden key-person risks - How to identify when a $3–5M EBITDA company truly has a middle management layer—or is still founder-reliant For anyone investing in or buying small businesses, Christien’s approach provides a fresh lens on growth, alignment, and deal structuring. 🎥 Watch the full interview here → https://lnkd.in/ekfkaiej 🎧 Listen on Spotify: https://lnkd.in/e86Agx6V

33

8 Comments

In Retail Week, Marc-André Kamel, head of Bain’s global Retail practice, highlights how six powerful disruptive trends in retail are setting the stage for a renaissance in the industry in the next five to 10 years, according to a just released Bain analysis. https://bit.ly/4nlECEg

45

5 Comments

Retail leadership has never moved faster — or been more demanding. I recently shared thoughts with Allison Smith at Modern Retail on why retail CEOs today have the shortest tenures of any industry. 📣 “It almost feels like the retail CEO’s job in 2025 has been a marathon run, but at a sprinter’s pace.” The pace of transformation, omnichannel evolution, and shifting consumer expectations have made this role both exhilarating and exhausting. Sustained success now requires endurance, adaptability, and alignment between boards and leadership teams around long-term growth — not just near-term results. #Retail #RetailCEO #OmnichannelRetail #CEOturnover Russell Reynolds Associates Read the full article here: https://lnkd.in/gwcrzJSX

72

4 Comments

Marc-André Kamel, global head of Bain’s Retail practice, is featured in CSP Daily News discussing the upcoming tech-led transformation of the retail industry, fueled by AI and automation. Early movers in retail who invest in the emerging tech disruptions of the industry will lead the renaissance, Bain predicts. https://bit.ly/3IxNreR

8