Ganni is about to become a Chinese-owned brand

Reuters broke the news: L Catterton, a private equity fund linked to LVMH, is reportedly considering the sale of Ganni for an amount of between USD 500 million and USD 700 million. According to the news agency, the negotiations will be handled by the American investment bank Lazard. Non-binding offers are expected to be submitted by 25 July, and the sale is said to have already attracted the attention of Chinese buyers. 

Founded in 2000 as a luxury cashmere brand by gallerist Frans Truelsen, Ganni passed into the ownership of Ditte and Nicolaj Reffstrup in 2009, who succeeded in transforming it into the scandi-cool label we know today. The secret? Offering something different from the classic Nordic minimalist fashion, declined in neutral shades, to focus, instead, on lively, original prints and bright colors that make unique easy, seasonless, sustainable and pieces that are easy to mix and match to create personal styling, as demonstrated by the passionate community of Ganni girls. The arrival of L Catterton who took over the majority stake in the company in 2017 proved strategic in consolidating and expanding the brand's presence in markets. Over the past five years, Ganni has experienced sustained sales growth, which in 2021 reached +65% and is estimated to reach €200 million this year. The Ganni empire can count on 40 monobrand shops, including the newly opened boutique in Paris on rue Vieille-du-Temple, and over 600 premium retailers in more than 20 countries worldwide. The future acquisition could push Ganni into further expansion, which we all hope will leave the coolness of its clothes unchanged.