The private investment arm of luxury goods group LVMH, L Capital Asia, has acquired a stake in Trendy International Group, a Chinese fashion firm.
According to reports, L Capital Asia has invested about $200m (£127m) for an approximate 10% stake in Trendy, which has four brands - Ochirly, Five Plus, Trendiano and Love ysabel.
Trendy International, which is based in the southern city of Guangzhou, and owns around 300 stores, as well as franchises for its four brands,
It’s thought to be LVMH’s first investment in a native Chinese retailer.
Last year, LVMH, which owns Louis Vuitton and Marc Jacobs, took control of accessories giant Bulgari. LVMH agreed to buy the Bulgari family’s 50.4% stake in a share swap and will make a tender offer for the rest.
The company posted a 17.6% rise in third-quarter sales last October. Total sales climbed 17.6% to €6.01bn (£5.2bn) during the three month period to June 30. It said total sales grew 15% to €16.3bn (£14.2bn) for the first nine months of the year.