LVMH teamed up with Citic Private Equity Funds to acquire a 10 percent stake in the Chinese fashion brand Ochirly, marking the first time that L Capital (the private equity firm of LVMH) has taken a direct stake in a mainland company.
The family-owned Ochirly is estimated to be worth $2 billion, and the deal is world $200 million.
Nick Debnam, a partner at KPMG said, “China has become the most important market for luxury and the global luxury players are clearly very interested to invest in China. There are a variety of options for investment in China, both in terms of developing existing luxury brands and building new brands.”
Ochirly was founded in the 1990s. It’s a mid-priced brand that boasts about 200 retail locations in China.
Source: Luxury Insider
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