Sunday, February 17, 2019

Luxury giant eyes investment in Joules


Private equity company L Capital, an arm of luxury giant LVMH, has expressed interest in investing in fashion retailer Joules as it plots international expansion, it is understood.

Lloyds Banking Group‘s buyout division LDC is also considering purchasing a stake in the retailer while Graphite Capital , which was said to be considering investment, is out of the running, according to The Independent.

L Capital was started 12 years ago amid backing from LVMH, Groupe Arnault, the holding company of LVMH‘S CEO Bernard Arnault, and Malysia‘s YTL.

Joules, which has more than 70 stores, has been valued at over £55 million and is working with advisers Rothschild to sell a stake in the business in order to fund international growth.

While Founder and CEO of the retailer Tom Joulehad hoped initially to sell a minority stake in the retailer, he is understood to be mulling the sale of a majority shareholding which would see him remain at the helm.

With existing franchise stores in Sweden and France, Joules is hoping to expand further into Europe while also eyeing the US and South-East Asia for building additional stores and an online presence.