The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
L Catterton, a private equity firm founded by Louis Vuitton owner LVMH and French billionaire Bernard Arnault, has launched a blank-check firm that aims to raise about $250 million in an initial public offering, a regulatory filing showed.
Founded in 1989, L Catterton has $22 billion in assets under management and has invested in companies such as Indian telecom firm Jio, exercise bike maker Peloton Interactive Inc and online used car seller Vroom Inc.
L Catterton Asia Acquisition Corp, a special purpose acquisition company (SPAC), will target firms in the consumer technology sectors across Asia, it said in a filing on Monday.
The SPAC, led by managing partners of L Catterton Asia, will sell 25 million units, made up of shares and warrants, priced at $10 a piece on the Nasdaq.
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A SPAC is a shell company that raises money in an IPO to merge with a privately held company that then becomes publicly traded as a result. SPACs have emerged as a popular IPO alternative for companies looking to go public with less regulatory scrutiny.
Credit Suisse is the underwriter for the offering.
By Noor Zainab Hussain; Editor: Shinjini Ganguli
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.