Louis Vuitton's Australia CEO joins L Capital as country head

According to a statement, Corne will lead L Capital's Australian division in a new phase of growth, including development of the firm's existing portfolio in the country as well as exploration of opportunities across beauty, wellness, natural and super foods, travel and wine.

Corne has been offering advisory services to L Capital Asia since 2014 and currently sits on the board of three of the firm's portfolio companies in Australia. These include swimwear company Seafolly and sports apparel 2XU. Last year, Corne was also appointed chairman of R.M. Williams, a domestic bootmaker acquired by L Capital in 2014 after an initial A$52 million ($39 million) commitment for a 50% stake in 2013.

"His tremendous experience in retail together with his standing in the Australian business community will bring a valuable skill set to our investment and operations team in both pre-investment due diligence and post-investment asset management," said Ravi Thakran, chairman and managing partner of L Capital Asia.

Following a career of almost 10 years with KPMG, Corne joined Louis Vuitton in 1988 and is credited with leading the brand's retail expansion in Australia and New Zealand since 2003. He will work closely with Shantanu Mukerji, who was appointed managing director of L Capital Asia in Australia earlier this year.

Founded in 2009, L Capital Asia claims to manage more than $1.6 billion across two private equity funds. It has offices in Singapore and Mauritius, with further regional advisory presence in Hong Kong, Mumbai, Shanghai and Sydney. Other Australian investments by the firm include Jones the Grocer, a gourmet foods retailer which in June entered administration for the second time in two years.

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• Topics
• Australasia
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• L Capital Asia
• Appointments