Private equity firm L Catterton is selling its Danish fashion brand Ganni in a deal that could fetch as much as $700 million, two people with knowledge of the situation told Reuters.
The firm has hired boutique investment bank Lazard to run the sale process, attracting interest from Chinese buyers, they said.
The non-binding offers are due on July 25, one of the sources said.
Ganni’s financial numbers have not been disclosed, but sources said a deal could value the fashion house at $500 million to $700 million.
L Catterton, Ganni and Lazard did not immediately respond to requests for comment.
Founded in 2000, Ganni offers ready-to-wear womenswear and has established an international presence through its own stores and over 400 premium retailers in 20 countries.
It also sells through various digital retailers.
L Catterton, who focuses on the global consumer sector, bought a majority stake in Ganni in 2017 and has since helped the brand expand internationally.
By Kane Wu in Hong Kong; Edited by Jason Neeley
Read more about how Ganni went from a niche Danish brand to a cult favorite in the BoF case study:
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Source: www.businessoffashion.com