SINGAPORE — L Capital Asia, the private equity fund set up by LVMH Moët Hennessy Louis Vuitton, has bought 49.9 percent of Australian heritage outfitter R.M. Williams.
A price for the transaction was not disclosed, but press reports estimate that L Capital spent around 50 million Australian dollars, or $52.5 million at current exchange, on the deal. LVMH’s investment arm typically takes out minority stakes in companies, though it purchased a majority holding in Melbourne-based food emporium Jones the Grocer last year.
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)