L Capital Asia raises $950 million in funding
Thanks to a strategy which targets middle class consumption in emerging Asia, L Capital has successfully completed a second round of funding raising a total of $950 million dollars, according to the American publication the Wall Street Journal. Names of investors have not been disclosed, but the private equity group L Capital Asia says backing came predominantly from North America, Europe and Asia.
Backed by luxury conglomerate LVMH, Groupe Arnault and Malaysian group YTL, L Capital Asia raised $637 million in its first rounding of funding in 2010, which was used to invest in a dozen local brands and labels.
Fashoin, leather goods, cosmetic, shoes, jewellery and sport are just some of the sectors of interest for the company, with Australia, China and China the main markets targeted by the Singapore-based firm.
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