John Hardy, the jewelry brand founded in Bali in 1975, is exploring a sale after being acquired by private equity firm L Catterton about eight years ago, according to people with knowledge of the matter.
The consumer-brand focused buyout firm is seeking to fetch about $200 million for the business, the people said, asking not to be identified discussing private information. L Catterton acquired John Hardy in 2014 from London-based private equity firm 3i Group for an undisclosed price, according to a statement.
Luxury spending dropped during the coronavirus pandemic as yoga pants and lounge wear took over. Prices, though, have held up or even climbed, with fashion houses like Chanel raising prices. French luxury giant LVMH’s purchase of Tiffany & Co. also prompted other players to consider bulking up.
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