Private equity firm L Catterton is said to be putting Danish fashion brand Ganni up for sale for up to $700 million.
According to a report by the Reuters news agency, the investment bank Lazard is said to have been commissioned to carry out the sale. Ganni should therefore already arouse the interest of Chinese buyers.
L Catterton declined to comment on the report to FashionUnited. Ganni told Reuters that there was no sale the company could comment on. Lazard declined to comment.
The fashion label could be valued between $500 million and $700 million in a sale, two people familiar with the matter told Reuters. One person also let it be known that non-binding offers could be made until July 25th.
L Catterton took over Ganni in 2017. The popular cult brand was founded in 2000 and now has an international presence with its own shops. Over 400 retailers and various digital channels sell the products.
L Catterton was formed in 2016 by merging the private equity businesses of luxury conglomerate LVMH and Catterton. In March, L Catterton sold its majority stake in French label Ba&sh. In addition to Ganni, the portfolio also includes fashion brands such as Birkenstock, Etro and Hanna Andersson.