Portugal's ISTO gets new backer, plans London store within a year
Altaz, which was founded only this year, specialises in supply chain optimisation, operations, logistics, international expansion, and financial strategy, will support the firm's 'measured growth' based on its international expansion plan.
That plan includes global growth including the aim of opening a store in London in the next eight-to-12 months.
The partnership is effective immediately, with joint initiatives already under way to enhance the brand's operations and strengthen its financial foundations.
The eight-year-old menswear label said the link-up 'marks a significant step' in its 'mission to build a globally recognised brand through steady, sustainable growth rather than rapid, unsustainable scale'.
It added that both companies share a belief that 'doing the right thing takes time, hard work, and risk' and have come together to blend ISTO's 'commitment to timeless design made in Portugal and transparency with Altaz Capital's operational expertise and hands-on approach'.
Brand co-founder and CEO Pedro Palha explained: 'As we thought about ISTO's next step we wanted to ensure we had the right expertise and partners who'd work alongside us daily. Altaz Capital is exactly that kind of partner. Their team brings a global background and connections, with a critical know-how in strategy, operations, and finance, which will help us strengthen our foundation and grow internationally at the right pace.'
Lisbon-based ISTO has a belief in 'radical transparency, timeless product design, and 100% Portuguese production'. It said it's 'determined to scale without compromising its values, focusing on long-term relationships with suppliers, partners, and customers'.
Altaz is known for working co-operatively with companies 'to implement solutions rather than just funding them', we're told and managing partner Sérgio Massano hailed ISTO's 'focus on product excellence and innovation'.
He added that the partnership 'reflects our confidence in ISTO's team and our belief in the brand's potential for significant global expansion'.
As part of the agreement, Massano joins Pedro Palha and Pedro Gaspar's leadership as a managing partner and André Flórido takes the role of CFO.
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