L Catterton to sell Danish fashion brand Ganni in up to $700 million deal, sources say
The firm has hired boutique investment bank Lazard to run the sale process, which has attracted interest from Chinese buyers, they said.
Non-binding bids are due by July 25, one of the sources said.
Ganni’s financial numbers have not been disclosed, but the sources said a deal could value the fashion house at between $500 million and $700 million.
Ganni said there is no sale the company could comment on. Lazard declined to comment and L Catterton did not immediately respond to a request for comment.
Founded in 2000, Ganni offers women’s ready-to-wear clothing and has established an international presence through its owned stores and more than 400 premium retailers in 20 countries.
It also sells through various digital retailers.
L Catterton, which focuses on the consumer sector globally, bought a majority stake in Ganni in 2017 and has since helped the brand to expand internationally.