PARIS — L Capital, the private equity arm of LVMH Moët Hennessy Louis Vuitton, said Tuesday it had taken a 60 percent stake in direct sales fashion firm Captain Tortue Group for an undisclosed sum.
Founded by Philippe and Lilian Jacquelinet in 1993, Captain Tortue sells children’s and women’s wear under the Capt’n Tortue, Miss Captain, Lady Captain and Java Lingerie brands.
The company posted turnover of 55 million euros, or $73 million, in 2010 and is targeting revenues of 114 million euros, or $151 million at current exchange, by 2015. It has 2,300 sales representatives and more than 300,000 customers in France, Spain, Switzerland, Luxembourg, Belgium, Ireland and the U.K.
“The group plans to strengthen its presence abroad through the development of its activities in Spain, Great Britain and Switzerland, as well as through the setup of new branches in Europe,” L Capital stated. Captain Tortue also plans to diversify its business in France through targeted acquisitions or partnerships, it added.
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Philippe and Lilian Jacquelinet will remain on board as chief executive officer and creative director, respectively.