29 Apr '14, 9pm

LVMH adds Crystal Jade to #Singapore jewel box

LVMH adds Crystal Jade to #Singapore jewel box

[SINGAPORE] After three years of courtship, L Capital Asia, the private-equity arm of French luxury goods giant LVMH Moet Hennessy Louis Vuitton, has bought home-grown Chinese restaurant group Crystal Jade in a deal that market sources place at around US$100 million. As L Capital adds yet another Singapore name to its growing collection of brands, Crystal Jade is set to soar in coming years. The restaurant group will tap LVMH's expertise in branding and marketing, as well as its relationships with landlords worldwide to place outlets in strategic locations. It plans to expand to Europe and the Middle East in addition to other parts of the world. An initial public offering (IPO) could eventually also be on the cards. "The business has come to a size that is quite big, and my age is not suitable to carry the business to another level," Crystal Jade group chairman and CEO Ip ...

Full article: http://www.businesstimes.com.sg/premium/top-stories/lvmh-...

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