Bernard Arnault and LVMH’s investment firm L Catterton is ready to go shopping. Its budget is $11 billion.
The Greenwich, Conn.-based investment firm said Wednesday it raised $11 billion across a broad swath of investor groups to funnel toward consumer purchases. The capital commitments are spread across several funds, including more than $6.8 billion set aside for the firm’s Flagship Buyout Fund. This is aimed at spending between $250 million to over $500 million on equity investments. The announcement leaves many to wonder what companies locally might serve as an acquisition target for the firm.
Other funds that benefited from the fundraising, include the firm’s growth, Europe, Japan and China and credit funds.
L Catterton Global CEO Scott Dahnke hailed the raise “in the midst of a challenging market environment.”
Acquisitions have been heating up in the apparel and fashion sector in a tightening market where opportunistic buyers are circling. M&A chatter has been especially hot and heavy since the announcement of tariffs and mounting uncertainty on their implications for business and consumer sentiment.
West Coast M&A
May alone was a busy month for deals. On the West Coast, members of the Nordstrom family and El Puerto de Liverpool closed on their purchase of the department store chain for $24.25 per share. Levi Strauss’ Dockers brand sold to Authentic Brands Group for as much as $391 million, which factors in performance payouts. Richer Poorer sold to direct-to-consumer brand Andie for an undisclosed sum. The largest of the month’s deals, was Skechers’ $9.4 billion trade to private equity firm 3G.
“Today’s consumer landscape is more varied, complex and global than ever before,” L Catterton co-founder and Executive Chair Michael Chu said in a statement.
Beyond announcing the raise, L Catterton gave no indication of what businesses it could be eyeing.
Among the fashion brands in its investment portfolio are French brand A.P.C., which it bought a majority stake in in 2023. In 2021, it closed on its purchase of Birkenstock, which went public in 2023. In 2014 it bought John Hardy and then reportedly placed the business on the sales block in 2022.
At least one name locally stands out. Los Angeles-based Dôen has quietly built itself into a business set to reach $100 million in annual revenue, according to Puck News. That same piece raised the idea of fundraising from outside investors to further scale, but that was attached to a possible capital infusion from the Wertheimer family, co-founders of Chanel.
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