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Tag: L Capital Asia

  • Singapore Myanmar Investco calls off Jones The Grocer franchise JV

    Singapore Myanmar Investco calls off Jones The Grocer franchise JV

    The planned Jones the Grocer Myanmar expansion has been cancelled.

    Singaporean Myanmar Investco investment and management firm has called off a partnership with restaurant chain Jones the Grocer.

    The company, which specialises in investments focused on the high-growth emerging economy of Myanmar, announced without further explanation that the crucial “initial development location” upon which the partnership was based was no longer available.

    The joint venture company formed as part of the agreement with local operator Pinnacle Myanmar will be dissolved.

    Jones the Grocer, a cafe and delicatessen concept, was founded in Sydney, Australia, in 1996. Now owned by JTG Holdings, of which LVMH-linked investment company L Capital Asia has a minority stake, it operates stores in Singapore, Thailand, Qatar, Bahrain and the UAE.

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  • L Catterton Asia launches beachwear platform

    L Catterton Asia launches beachwear platform

    Australian swimwear brand Seafolly and Colombian beachwear brand Maaji are the first signings for a global lifestyle platform launched by L Catterton Asia.

    Based in Singapore, L Catterton Asia is an arm of private equity firm L Catterton, formed last year through a partnership between Catterton, LVMH and Groupe Arnault. It will be the controlling shareholder of the combined business, with the Maaji and Seafolly founders as minority shareholders.

    It is the first step in the aggregation of the fragmented swimwear/beachwear industry.

    Seafolly was founded in 1975 by Peter and Yvonne Halas, and has been led by Anthony Halas since he became CEO in 1998. He has built the business across international markets in Europe, North America and Asia. L Catterton Asia acquired a controlling interest in the brand in December 2014, and now it is sold in 41 countries (there are four stores in Singapore) as well as online.

    Maaji was founded by sisters Manuela and Amalia Sierra in 2002, and has a presence in more than 54 countries.

    “With this unparalleled combination of Maaji and Seafolly we look to grow our portfolio and create the largest independent house of beach lifestyle brands,” says L Catterton Asia chairman/managing partner Ravi Thakran. “This combination will drive many synergies, including geographic expansion, retail rollout and product sourcing.”

    L Catterton Asia’s goal is to preserve each brand’s DNA and heritage, while enabling the brands to enhance their global growth.

    Previously known as L Capital Asia, L Catterton Asia was launched in 2009 and manages more than US$1.6 billion across two private equity funds, and more than US$2 billion including co-investments. It has offices in Singapore and Mauritius, with further regional advisory presence in Hong Kong, Mumbai, Shanghai and Sydney. Its investments include Charles & Keith, Crystal Jade, Pepe Jeans Group and YG Entertainment, which promotes Korean singers and entertainers like Big Bang and Psy.

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  • JTG Holdings buys Jones the Grocer global rights

    JTG Holdings buys Jones the Grocer global rights

    JTG Holdings, the master franchisee for Jones the Grocer in the Middle East and North Africa, has bought the global rights to the brand.

    In a separate transaction LVMH investment arm, L Capital Asia has taken a minority stake in JTG Holdings with the aim of backing the brand in its international expansion.

    Another subsidiary of L Capital Asia has taken master franchise rights for the brand in various markets in north Asia, Southeast Asia, Australia and New Zealand.

    While its base in the UAE will give JTG Holdings a global footprint, it aims to stay true to its Australian roots and is committed to supporting franchisees as true partners.

    Jones the Grocer is a cafe and retail outlet specialising in hand-selected specialty products, its flagships featuring a signature walk-in cheese room, charcuterie and deli. Established in 1996 with the launch of its flagship Australian store in Woollahra, Sydney, Jones the Grocer has now has 19 stores across Australia, New Zealand, Singapore, Thailand, Qatar, Bahrain and the UAE.

  • Louis Vuitton rescues Jones the Grocer model

    Louis Vuitton rescues Jones the Grocer model

    Louis Vuitton’s personal fairness arm L Capital Asia has purchased the stays of collapsed Singapore gourmand meals retailer Jones the Grocer.

    The upmarket grocery retailer was initially based in Australia, however collapsed final yr. It has shops on Dempsey Hill and in Mandarin Gallery.

    L Capital Asia had taken a 63 per cent stake within the Singapore arm of the enterprise, Jones the Grocer Worldwide, (JTGI), three years in the past, believing the model and idea had robust potential in Asia. However it was positioned beneath judicial administration in December.

    The Singapore Enterprise Occasions reported the corporate had money owed of $15 million and a financial institution stability of $61,000 on the time.

    Recent Bay Investments, a subsidiary of L Capital Asia, has paid S$2.75 million for the model rights and different belongings of the enterprise, however not the debt, probably angering some suppliers. Singapore information media report L Capital has already acquired the worldwide model rights from the Australian firm which it additionally has a majority stake in.

    In addition to its unique funding, and final week’s $2.75 million for the shell, Recent Bay has reportedly ploughed an extra $17 million into maintaining the enterprise afloat till now.

    L Capital Asia managing companion Ravi Thakran informed AsiaOne Enterprise that his firm knew the Jones the Grocer enterprise greatest and was subsequently the only option to rebuild the model.

  • PE invests in Crystal Jade expansion

    PE invests in Crystal Jade expansion

    Standard Chartered Private Equity has invested in Crystal Jade Group to help Louis Vuitton accelerate the restaurant group’s Asian expansion.

    Crystal Jade operates over 100 outlets ranging from fine dining, casual and specialty restaurants to bakeries across the Asia Pacific region with a primary focus in Singapore, Hong Kong and Mainland China. Established in the early 1990s, it has become a household name in Chinese cuisine.

    SCPE has invested US$52 million in the business, joining Louis Vuitton’s investment arm L Capital Asia on the shareholder’s register.

    The investment will primarily go towards funding the growth of Crystal Jade’s existing network of outlets across Asia, as well as the expansion of its footprint internationally.

    Ravi Thakran, managing partner of L Capital Asia, said the two investors already have a track record of successful investment partnerships.

    “Their investment will further strengthen the resources available to allow full exploitation of the tremendous growth opportunity for Crystal Jade.”

    Nainesh Jaisingh, global co-head of private equity at SCPE, said Crystal Jade is an exciting business, with a strong Asian brand and significant potential across Standard Chartered’s footprint.

    “We… look forward to building a great company together.”

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  • LVMH invests in China outlet malls

    LVMH invests in China outlet malls

    The world’s largest luxury brand owner LVMH is to take a cornerstone stake in a unique, upmarket outlet mall business in China, Sasseur.

    The investment will come via its Singapore-based L Capital Asia investment arm, which specialises in identifying upcoming brands and providing venture capital for their growth and market development.

    L Capital Asia will invest more than US$100 million in Sasseur Cayman, which owns four outlet malls, representing the fund’s second biggest investment in China to date. Sasseur plans to open another four malls this year and eventually expand the chain to 20.

    “The outlet concept will become much bigger in China,”  L Capital Asia chairman Ravi Thakran said. “As Chinese consumers become more sophisticated, they want better value.”

    Sasseur Group describes itself on its website as “a comprehensive conglomerate with business as its core”. It uses distinctive artistic executions to lift the shopping experience above the sterile, budget nature of most modern day outlet centres around the world.

    The company dates back 20 years as a brand, having started as a coffee shop.

    It says it adhere to a core business philosophy of ‘art, technology, brand’, developing malls of “high taste”.

    Sasseur sells womens and mens fashion, high end jewellery and sports and leisure goods and provides dining and entertainment options.

    One of its early malls was designed with a blend of Italian inspired architecture and historic influence from the ancient city walls of Nanjing, eastern Sichuan houses and An Hui style architecture. Others have more abstract themes.

    Chairman and founder Xu Rongcan says his goal was to make Sasseur “an outlet with attitude”.

    “What is Sasseur attitude? That is the persistent pursuit of beauty. Sasseur is my entire understanding of art business. I am willing to implant all my understanding and persistency of beauty into my outlet, not only the buildings, luxury, decoration, business content, but also to implant these persistent and pure values into every employee, into every inch land of Sasseur. In the eco art business, let consumers experience the beauty, quality and harvest beauty.”