PARIS — Affordable luxury continues to attract investor attention.

Echoing its 2010 investment in contemporary brands Sandro, Maje and Claudie Pierlot, L Capital said Monday it would acquire 50 percent of French contemporary fashion chain Ba&sh.

The private equity fund — sponsored by LVMH Moët Hennessy Louis Vuitton and Group Arnault — said it would partner with the founding managers to accelerate Ba&sh’s international expansion.

Ba&sh counts about 60 boutiques and shops-in-shop, mostly in France. It recently expanded into the U.K. and Belgium, and is slated to open stores in the coming months in Spain, Switzerland and Denmark. The brand also wholesales its approachable, bohemian chic for women to about 300 specialty stores, the company said.

Financial terms were not disclosed and the deal is subject to clearance by antitrust authorities.

Market sources estimate Ba&sh revenues at 35 million euros, or $42.5 million.

L Capital cashed out with Sandro/Maje in 2013, when American private equity giant Kohlberg Kravis Roberts & Co. snapped up SMCP Group from L Capital and Florac for an estimated 650 million euros, or $790.1 million at current exchange rates.

L Capital noted that Barbara Boccara and Sharon Krief, who founded Ba&sh in 2003, would remain with the company alongside investor Groupe Vog, which retains a 50 percent stake. Boccara and Krief are to comanage the company with executives Dan Arrouas of Groupe Vog and Pierre-Arnaud Grenade, most recently an executive at Princesse Tam Tam.

Groupe Vog, cofounded by Arrouas, has funded fashion companies including Eleven Paris, Ella Luna and PromoWorld.

L Capital invests mainly in personal care, selective retailing and home equipment, and has invested in fashion companies including Gant, Giuseppe Zanotti, Dondup, Pepe Jeans and Hackett.

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