Lion Capital said that it plans to buy a majority stake in New York-based John Varvatos Enterprises.
The amount of the purchase remains undisclosed, but John Varvatos will remain as chairman and chief creative officer. He launched his namesake brand in 2000, and the business has grown to include footwear, fragrance, and bags in addition to its initial clothing and sportswear lines. His collection retails in 10 boutiques across the United States and major department stores like Barneys New York, Bloomingdales and Neiman Marcus.
Lion Capital invests solely and the retail sector and plans to expand the business both within the U.S. and internationally.
Source: Fox Business