L Capital expands China portfolio with $2b investment
L Capital Asia, the private equity unit of multinational luxury giant LVMH, has reportedly purchased a 10% stake in China fashion company Ochirly for US$2 billion. It is another indication of the brand’s ambition to expand its portfolio in the world's second-largest luxury market.
The deal will help LVMH to target mid- to high-end consumers in China, with the hope to deepen its understanding of the mainland market, The South China Morning Post reported. L Capital did not respond...
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