CHINA: LVMH-backed fund buys Trendy stake?
A private-equity fund backed by LVMH Moët Hennessy Louis Vuitton has bought a stake in Chinese company Trendy International Group, according to reports.
L Capital Asia invested around US$200m in a roughly 10% stake in Guangzhou-based casual-wear company Trendy, the Wall Street Journal said. The company owns the Ochirly, Five Plus, Trendiano and Love Ysabel brands.
L Capital, which is owned by LVMH chief Bernard Arnault, his family and Florac took a controlling stake in SMCP, which owns French fashion labels Sandro, Maje and Claudie Pierlot, last year.
L Capital Asia declined to comment on the reports.
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