L Capital Asia invests in Italian footwear maker

The two investors will take a 30% stake in Vicini, owner of the Giuseppe Zanotti Design (GZD) brand. They will support Giuseppe Zanotti, the company's chairman and chief designer, in expanding global market share. Financial terms were not disclosed.

"I was really impressed by the creativity content and 100% Italian craftsmanship of the GZD products and I believe the company's potential for further growth in the Asian markets is exceptional," said Ravi Thakran, managing partner of L Capital Asia, in a statement.

"L Capital Asia will cooperate with the company providing access to its network of local contacts and potential partners in order to foster this process in the immediate future".

All Vicini's products are handmade in Italy but the company has built an international retail network over the past 20 years, through directly-owned showrooms and distribution partners. The company has more than 85 mono-brand stores and achieved record turnover of more than EUR115 million ($158 million) in the year ended October 2013.

L Capital Management has a broadly similar consumer-driven investment focus to its Asian affiliate, but it primarily operates in Europe, with North America- and Asia-based deals considered on an opportunistic basis. The two firms currently manage funds worth EUR2.2 billion between them.

L Capital Asia reached a first close on its second regional fund last September at the hard cap of $950 million after less than six months in the market. The final close, which included the GP commitment, followed a few months later. Recent investments include Taiwan skincare brand Dr. Wu and luxury restaurant operator Ku Dé Ta.

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• Topics
• Expansion
• Europe
• Consumer
• Consumer
• L Capital Asia
• Growth capital
• Europe