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2021-07-19

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LVMH-backed fund to buy 60% of Italian fashion label Etro-sources

MILAN, July 18 (Reuters) - L Catterton, a private equity firm backed by French luxury giant LVMH , h

LVMH-backed fund to buy 60% of Italian fashion label Etro-sources

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LVMH and L Catterton were not immediately available for a comment.</p>\n<p>In April, a source close to the matter had told Reuters that the Milan-based luxury brand was considering an expression of interest from L Catterton, an investment firm born out of a partnership among Catterton, LVMH and its billionaire owner Bernard Arnault.</p>\n<p>The four children of Gerolamo Etro, who founded the company in 1968, will stay on as shareholders with a 40% stake and will remain owners of Etro's real estate property and directly operated stores, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the sources said.</p>\n<p>L Catterton recently bought German sandal maker Birkenstock. LVMH, which owns a string of Italian labels including jeweller Bulgari, also boosted its stake in Italian luxury shoemaker Tod's to 10% in April.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BBWI":"Bath & Body Works Inc.","LB":"LandBridge Co. 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