John Varvatos was launched in 2000 and retails men’s footwear, bags, belts, eyewear, watches and fragrances in ten boutiques across the US and online, as well as in specialty stores and department stores including Harvey Nichols in London. Financial terms of the deal were not disclosed.
“Behind John’s unique style and uncompromising vision, the John Varvatos brand has become one of the most exciting brands to enter the men’s luxury apparel landscape in the past dozen years,” said Lyndon Lea, a partner at Lion Capital.
“With a loyal and rapidly growing customer base, the brand is well positioned for future growth across multiple product lines and distribution channels both in the US and internationally. We look forward to unlocking the substantial potential that we see within the brand over the next several years.”
Lion Capital is also said to be in advanced talks over the break up of UK-based frozen food maker Findus in an effort to avoid breaking the company’s debt covenants.
The firm has recently struggled to maintain the performance of its portfolio companies amid a wider backdrop of economic volatility that has hit the consumer sector hard.
In January La Senza, the embattled high street lingerie retailer backed by the firm, came to an agreement with Alshaya that will see the Middle Eastern retail group rescue the company’s UK operations in a pre-pack administration deal.
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