Chinese men's fashion retailer GXG, which is part of the portfolio of private equity firm L Catterton Asia, is looking to raise about $300 million through an initial public offering in Hong Kong, Bloomberg News reported March 8, citing people with knowledge of the matter.
The sources said GXG was working with investment banks on a proposed listing, which one person said could take place as soon as this year.
L Catterton Asia, which is backed by LVMH Moët Hennessy Louis Vuitton SE, acquired a majority stake in GXG in 2016. The Ningbo-based retailer has more than 2,100 stores across China and more than 4,000 employees, according to the report.
A GXG representative did not immediately respond to requests for comment by Bloomberg News, while an L Catterton Asia official declined to comment on the matter.
