P43 Joules Clothes
20 May 2013
L Capital, the private-equity arm of the world’s biggest luxury goods company, LVMH, is planning to make a major investment in Joules, the fashion retailer favoured by the county set.
Lloyds Banking Group’s buyout division LDC is among other suitors considering buying a stake in Joules, which is valued at more than £55 million. But Graphite Capital is out of the running.
Joules, which has more than 70 stores, has teamed up with advisers at Rothschild and is considering options to raise funds for expansion in the UK and overseas.
It was thought that Tom Joule, the founder and chief executive, wanted to sell only a minority stake, but he is now considering selling a majority shareholding. All parties declined to comment.
