Dubai, UAE, 15 August 2012 – L Capital Asia L.L.C. (“L Capital Asia”), a private equity fund sponsored by LVMH takes an equity stake in jones the grocer (“JTG”), a leading food emporium from Australia.
L Capital Asia believes that JTG is a differentiated concept with a great potential to expand across Asia. It has already proven to be highly successful across geographies such as South East Asia and the Middle East. The Company has recently acquired the JTG Singapore business to create a strong platform for growth for further expansion in Singapore and South East Asia as well as acquiring leading Australian brands Becasse Bakery and Charlie & Co.
Speaking about the investment, Ravi Thakran, Managing Partner of L Capital Asia said “We believe JTG is a great addition to our portfolio. Asian markets welcome new lifestyle concepts like JTG. It’s Australian origin represents, on one hand the quality of F&B that the country is famous for and at the same time the ‘cool’ and ‘hip’ lifestyle Australians reflect so beautifully. The Company is poised to grow five-fold in five years. There are not many opportunities with this kind of potential. We are very excited about expanding this brand into new markets, especially North Asia, South East Asia and the Middle East. ”
John Manos and Esther Iachelini, co-directors of JTG said “L Capital Asia’s investment in JTG is a significant endorsement of the strength and success of the brand today and its potential for the future. We are delighted to embark on a partnership that shall enable JTG to realise its full potential.”
JTG is an Australian origin food emporium aimed at inspiring a love of great food and providing customers with a full gourmet experience. Each JTG store has a vibrant and contemporary café offering customers modern Australian cuisine with an international influence. JTG’s offering includes a wide range of fine foods sourced locally and internationally, including artisan groceries, a European deli, a walk-in cheese room, freshly baked pastries, homeware, gifts and hampers. JTG is the only premium Australian food brand with a presence outside Australia. First launched in Sydney, Australia, it now has other stores in Australia, New Zealand, Qatar, Singapore, and the United Arab Emirates.
L Capital Asia, a third private equity fund sponsored by the LVMH Group. It aims to provide growth equity to private companies and help them build their brands. Its offices are located in Shanghai, Mumbai, Delhi and Singapore. The Fund focuses on investing in aspirational brands in the growing emerging Asian market, including China and India. L Capital Asia closed at USD 635m on 31 December 2010.
LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Hennessy, Glenmorangie, Ardbeg, Vodka Belvedere, 10 Cane, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Green Point, Cape Mentelle, Newton, Wen Jun. Its Fashion and Leather Goods division includes Louis Vuitton, the world’s leading luxury brand, as well as Céline, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs and Berluti. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as well as other promising cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh). LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon Marché, Samaritaine and Royal Van Lent. LVMH’s Watches and Jewelry division comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Jewellery, a joint venture created with the world’s leading diamond group.