The private equity giant, which counts itself as the largest consumer-focused fund in the world with investments from Birkenstock to Rihanna’s Savage x Fenty, is looking to get about $200 million for the luxury jeweler, which it has owned for eight years.
L Catterton declined to comment and a representative for Evercore could not immediately be reached.
The investor bought John Hardy from 3i Group and installed former American Eagle Outfitters chief executive officer Robert Hanson as CEO.
Hanson focused on developing the brand’s direct-to-consumer retail and e-commerce businesses and bolstering global operations. He passed the CEO reins over to Kareem Gahed in 2019.
The sale process, which was first reported by Bloomberg, is said to have piqued the interest of both strategic buyers and other private equity firms.
Jewelry has become a closely watched category in dealmaking, particularly since the pandemic saw increased spending in the category. It’s a category that LVMH Moët Hennessy Louis Vuitton, which has a stake in L Catterton, has also been expanding in, especially through its acquisition of Tiffany & Co.
John Hardy was founded by Canadian designer John Hardy in 1975, after he visited Bali and struck up a collaboration with the island’s artisans.
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