Lion Capital Buys Majority Stake In Men's Clotheswear Firm John Varvatos

Lion Capital said Thursday it had agreed to buy a majority stake in New York-based John Varvatos Enterprises, a men's lifestyle company owned by VF Sportswear, Inc. and John Varvatos, for an undisclosed sum.

John Varvatos, who will retain a stake in the company and continue as chairman and chief creative officer, launched his namesake brand in 2000 and has grown the business to include footwear, bags and fragrances as well as its initial tailored clothing and sportswear products. Its collection is distributed across 10 freestanding boutiques in the U.S. as well as from concessions in major department stores and boutiques including Barneys New York, Neiman Marcus and Bloomingdales Inc.

Lion Capital, which invests exclusively in the consumer sector, plans to grow the company internationally as well as within the U.S.

"The John Varvatos brand has become one of the most exciting brands to enter the men's luxury apparel landscape in the past dozen years," said Lyndon Lea, partner of Lion Capital.

"With a loyal and rapidly growing customer base, the brand is well-positioned for future growth across multiple product lines and distribution channels both in the United States and internationally," he added.

Law firm Hughes Hubbard advised John Varvatos.

-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com

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