PARIS L Capital, the private equity arm of LVMH Moët Hennessy Louis Vuitton, has taken a 35 percent stake in French fashion accessories license group TWC L’Amy for an undisclosed sum.

Pending approval by regulatory authorities, L Capital will become the second largest shareholder in the firm after Financière Molière.

TWC L’Amy, founded in 1999, specializes in licensed fashion accessories including watches, eyewear, jewelry and leather goods with sales of around 120 million euros, or $159.2 million, in 2010.

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