Private equity company L Catterton is selling its Danish type mannequin Ganni in a deal which may fetch as a lot as $700 million, two people with knowledge of the state of affairs suggested Reuters.
The company has employed boutique funding monetary establishment Lazard to run the sale course of, which has attracted curiosity from Chinese language language patrons, they acknowledged.
Non-binding bids are due by July 25, certainly one of many sources acknowledged.
Ganni’s financial numbers have not been disclosed nonetheless the sources acknowledged a deal would possibly well worth the type house at $500 million to $700 million.
L Catterton, Ganni and Lazard did not immediately reply to requests for comment.
Based mostly in 2000, Ganni supplies women’s ready-to-wear garments and has established a world presence by its owned retailers and larger than 400 premium retailers in 20 worldwide places.
It moreover sells by means of quite a few digital retailers.
L Catterton, which focuses on the patron sector globally, bought a majority stake in Ganni in 2017 and has since helped the mannequin broaden internationally.
By Kane Wu in Hong Kong; Edited by Jason Neely
Study additional about how Ganni went from a definite section Danish label to a cult favorite in BoF’s case look at:
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