A company backed by LVMH has bought a stake in the owner of Bicester Village in a deal worth £1.5bn.
Private equity group L Catterton, a partner in the French fashion giant, bought the 42 percent stake in Value Retail, previously owned by property developer Hammerson.
Bicester Village, a designer store in Oxfordshire, is part of LVMH boss Bernard Arnault’s empire
The deal will see Bicester Village, a designer store in Oxfordshire, become part of the empire of LVMH boss Bernard Arnault, one of the richest men in the world with a fortune of £148 billion.
L Catterton is one of the world’s largest consumer-focused private equity groups with £26bn of assets under management. It has been part of Arnault’s empire since 2016, with LVMH owning 40 per cent.
The company is a majority shareholder in 52 groups, including Birkenstock and Ganni.
Value Retail owns nine retail centres in Europe.
This includes Bicester Village, home to luxury brands such as Alexander McQueen, Jimmy Choo and Stella McCartney. Hammerson, which also owns the Bullring shopping centre in Birmingham, said the sale would generate around £600m in cash.
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