Apart from being some of the most recognizable brands in Asia, footwear brand Charles & Keith, Australian swimwear brand Seafolly and K-pop talent manger YG entertainment are also among investment picks that L Catterton Asia has made.
"Our focus (is) basically making good to great," says Ravi Thakran, chairman and managing partner at L Catterton. The private equity firm launched this year is a partnership of U.S.-based Catterton, and luxury goods focused powerhouses LVMH and Groupe Arnault based in Paris, making it the largest consumer-focused private equity firm in the world.
Thakran said the work-in-progress goal for L Catterton in Asia is 10 companies in 10 years.
"The journey is still far but I would say a decade from now, we should have at least 10 examples of good companies being built from Asia," Thakran says.
Asian consumers have long been a growth target for luxury brands as growing wealth particularly in China and the entry-points of Hong Kong and Macau, but Southeast Asian hubs like Singapore also attract gleaming high-end brand stores for designers such as Marc Jacobs under the LVMH umbrella to Hermes under Groupe Arnault.