L Capital goes shopping... in China

L Capital, the investment fund linked to LVMH, is likely to acquire a 70% share in the stock of GXG, the Chinese menswear specialist.

The group was created in 2007 and retails its own brand, featuring three ranges: a main range, denim and kids. GXG has reportedly at its disposal in China a network of over 1,000 stores and it is believed to have generated in 2013 a revenue of CNY4 billion (approximately €572 million). This year L Capital Asia has already acquired the brands Pepe Jeans and Dondup in Europe.

Bruno Joly  (with Tong Wu, FashionMag China)