China’s L Catterton Backed Mulsanne Group Filed for IPO in Hong Kong

LONDON — Mulsanne Group, a Chinese men’s wear manufacturer backed by L Catterton, filed for an initial public offering on the Hong Kong Stock Exchange on Monday. With a market capitalization of 4.07 billion Hong Kong dollars, or $518.5 million at current exchange, Mulsanne Group is the first Chinese fashion company to enter the stock market in the last 12 months. The company offered 200 million shares, of which 180 million shares will be sold internationally. The company raised 1.17 billion Hong Kong dollars, or $149.1 million. Credit Suisse, Citigroup and China Merchant Bank International are joint sponsors. Yong Yu, chief executive officer of the company, said to the local press that the kids wear and women’s wear markets will be a big focus in Mulsanne’s post-IPO strategy. The company is also incubating some new ideas and is seeking new collaborations. Mulsanne Group is also open to acquiring men’s and women’s wear brands, but has no timeline on that so far. Founded in 2007, the company operates five brands. They are Gxg, Gxg Jeans, Gxg.kids, Yatlas and 2Xu, an Australian sportswear brand that is also backed by L Catteron. It made 3.01 billion, 3.51 billion and 3.78 billion Hong Kong dollars in 2016, 2017 and

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD http://bit.ly/2MgPhCE