SYDNEY — LVMH Moët Hennessy Louis Vuitton-backed L Capital Asia has bought 40 percent of Melbourne-based technical sportswear manufacturer 2XU, making its second investment in Australia in eight months.
The Australian company and its existing equity partner Lazard Australia Private Equity announced the news Monday. They did not dispose a price for the deal but sources said the stake is worth approximately 75 million Australian dollars, or $68.3 million at current exchange.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)