L Capital backs luxury footwear retailer Vicini


viciniLouis Vuitton-backed private equity firms L Capital Management and L Capital Asia have bought a 30 per cent stake in Italian luxury footwear maker and retailer Vicini.

Vicini currently has more than 85 mono-brand stores around the globe. The company posted record revenues of €115m in the fiscal year to the end of October 2013.

L Capital Asia managing partner Ravi Thakran said, “I was really impressed by the creativity content and 100% Italian craftsmanship of the GZD products and I believe the company’s potential for further growth in the Asian markets is exceptional.

“L Capital Asia will cooperate with the company providing access to its network of local contacts and potential partners in order to foster this process in the immediate future.”

Earlier this month it was reported that private equity major KKR was in exclusive talks to invest in French fashion group SMCP, which is backed by L Capital.

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