The LVMH-backed private equity firm has taken a majority stake in the German footwear company. Financière Agache, the family office of LVMH Chairman Bernard Arnault, will also invest.

L Catterton is reportedly the frontrunner to acquire the original anti-fashion shoe brand, which is reaping the rewards of shoppers’ pandemic-driven desire for casual comfort.

The luxury e-tailer is offering 15.6 million shares on the New York Stock Exchange. In a statement on Tuesday, the company said it expects its share

The German e-commerce company plans to seek a valuation of about $1 billion to $1.5 billion, which could change based on holiday period performance, according to people familiar with the matter.