L Capital Asia, the corporate venturing fund representing French luxury consumer brands conglomerate LVMH, has bought a 49.9% stake in 81-year-old Australian bushwear firm RM Williams.
The deal was valued at around A$52m ($53.2m), according to a source.
Ken Cowley, chairman and owner of RM Williams, which is known for its elastic-sided boots, will retain the majority holding.
Singapore-based L Capital Asia, which is also backed by Groupe Arnault, the holding company of LVMH chairman and chief executive Bernard Arnault,…
