The firm, which manages roughly $30 billion in assets, has hired Goldman Sachs and Morgan Stanley to explore its options, according to the Wall Street Journal. If L Catterton finds an exit in the public markets, it could be valued at $3 billion or more.

L Catterton, formed in 2016 when private equity firm Catterton, the Arnault family holding company Groupe Arnault and LVMH joined forces, holds a controlling stake in or ownership of brands including Etro and Birkenstock while backing DTC names such as Everlane.

In December, the firm began pitching a buyout fund to investors, hoping to raise $6.5 billion, plus an additional $1.25 billion for a growth-investment fund.

Learn more:

Private Equity Firm L Catterton Sets $7.8 Billion Fundraising Goal

The news follows a dizzying year in fundraising and deal-making in the venture capital and private equity world and precedes a year in which the world’s economy is expected to expand.

Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholder's documentation guaranteeing BoF's complete editorial independence.