Editor’s Note
This article is based on a Bloomberg report citing unnamed sources. The information regarding TPG’s potential exit from APM Monaco should be considered market speculation at this stage. No official statement has been released by the involved companies.
Jiang Jingjin
2025-12-12 19:58
Bloomberg, citing informed sources, reports that U.S. private equity firm TPG (Texas Pacific Group) is exploring various options for its investment in the Monaco jewelry brand APM Monaco, including a potential equity sale or an initial public offering (IPO).
Sources indicate that TPG is working with a financial advisor and may initiate a “dual-track process” early next year, simultaneously pursuing both an equity sale and an IPO. One source stated that TPG hopes to secure a valuation of at least $2 billion for APM Monaco through this transaction.
Sources added that discussions are still in the preliminary stages, and TPG could also choose to hold onto the brand for a longer period. In 2019, TPG, China Synergy (an investment platform co-established with China’s CICC Capital), and Paris-based private equity firm Trail collectively acquired a 30% stake in APM Monaco. The specific amount was not disclosed, but reports at the time suggested the deal valued APM Monaco at approximately $800 million.
As of the end of September this year, TPG’s assets under management reached $286 billion.
In 2021, APM Monaco submitted preliminary documents to the Hong Kong Stock Exchange for a planned listing in Hong Kong, but the plan ultimately did not materialize. Reports in 2022 indicated that a group of investors led by TPG was considering selling their minority stake in APM Monaco, but TPG stated at the time that it had no plans to sell.
APM Monaco was founded in 1982 by Ms. Ariane Prette and her son Philippe Prette. The brand name is derived from her initials plus Monaco. It started as an original equipment manufacturer (OEM) for jewelry, providing design and production services for well-known European jewelry retailers.
APM Monaco’s current headquarters is in Hong Kong. In December 2018, *Luxe.CO* interviewed APM Monaco CEO Philippe Prette and his wife, Creative Director Kika Prette. At the time, Philippe Prette stated that APM Monaco’s production base and half of its global stores are in the Chinese market, making it almost half a “Chinese brand.”
According to information on APM Monaco’s official website, the brand currently operates approximately 500 stores worldwide.
