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An LVMH-backed company has bought a stake in the owner of Bicester Village in a £1.5bn deal.
Private equity group L Catterton, a partner of the French fashion giant, has acquired the 42 percent stake in Value Retail previously held by property developer Hammerson.
Bicester Village, a designer outlet store in Oxfordshire, is part of LVMH boss Bernard Arnault’s empire
The deal means Bicester Village, a designer outlet store in Oxfordshire, is part of the empire of LVMH boss Bernard Arnault, one of the world’s richest men with a fortune of £148bn.
L Catterton is one of the world’s largest consumer-focused private equity groups, with £26bn in assets under management. It has been part of Arnault’s empire since 2016, of which LVMH owns 40%.
It is the majority shareholder in 52 groups, including Birkenstock and Ganni.
Value Retail has nine retail centres across Europe.
Among them is Bicester Village, which is home to luxury brands including 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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