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Apparel, Lifestyle, M&A
May 18, 2012 | 0 Comments

LVMH focuses on China’s wedding photographers

Waiting for LVMH? A Chinese couple in Beijing's Temple of Heaven

A Chinese couple poses in Beijing's Temple of Heaven

L Capital is looking to acquire a share in a Chinese wedding photography company. The fund serves as the investment arm of the world’s largest luxury goods conglomerate, LVMH. Chinese couples spend over RMB 3,500 on average on their wedding photos, with couples in Shanghai spending over RMB 4,000. If a deal materializes, it will be L Capital’s second direct investment in China, following its purchase of a 10% stake in Ochirly, a local apparel brand.

LVMH’s enjoys double digit sales growth in Asia (ex. Japan), but recently said that growth in China did not keep pace with previous years. The move comes as part of LVMH’s push into the market for Chinese lifestyle goods. Earlier this year, the company launched a Chinese version of its lifestyle magazine, Nowness.com, and it previously acquired Chinese liquor brand Wenjun.

 

 

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