L Catterton could go public this summer
Following an initial rumor relayed by Reuters last year, L Catterton appears to be moving forward with its IPO process according to the Wall Street Journal. The French-American investment fund, co-founded by LVMH, is reportedly planning to go public in the summer of 2022 and hired the Goldman Sachs and Morgan Stanley banks to carry out this financial operation.
According to the American business newspaper, L Catterton, which manages assets worth nearly $30 billion, could be valued at over $3 billion (€2.68 billion) thanks to this listing. The company has not yet responded to Fashion Network's request for comment.
The group was created in 2016, when the U.S. investment company Catterton joined forces with the L Capital fund, owned by the Arnault family and the LVMH group. In 2021, the fund was particularly active in the fashion sector, acquiring a majority stake in German footwear brand Birkenstock, Italian ready-to-wear label Etro, and Marseille-based brand Jott.
L Catterton's brand portfolio also includes stakes in Danish clothing brand Ganni, French fashion label Ba&sh, beachwear company Seafolly, and cycling apparel company Rapha. The investment fund manages a total of about 50 investments in the consumer goods, food, pet care, fitness, and travel sectors.
The Honest Company, the beauty brand founded by actress Jessica Alba and an asset of the conglomerate, successfully went public last year. During its introduction, it raised more than $400 million, reaching a valuation of $1.4 billion.
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