US venture capital and private equity firm L Catterton has acquired a majority stake in Danish fashion brand Ganni for an undisclosed amount.
The investment will be used to expand the brand’s global presence, which includes 400 retail doors and 21 standalone stores across Denmark, Sweden and Norway.
Nicolaj Reffstrup, Ganni’s CEO, said: ”This comes exactly at the right time for Ganni and will drive us forward in the next few years as we’ll get access to the knowledge and network of both L Catterton and LVMH.
“Ganni attracted a lot of interest from various investment firms, but we chose L Catterton as we felt we share the same vision for the brand. We firmly believe that L Catterton will strengthen our business with their unparalleled expertise in brand building and their deep understanding of how a global fashion brand operates.”
Reffstrup and his wife Ditte, who is creative director, took control of Ganni from founder Frans Truelsen in 2009. Its turnover is expected to reach about $45m (£33.5m) in 2017.
L Catterton’s shareholders include LVMH and Groupe Arnault, the family holding company of LVMH chairman Bernard Arnault.