LVMH-backed L Catterton snaps up majority stake in Japan’s Kapital

Investment firm L Catterton has reportedly snapped up a majority stake in Japanese denim specialist Kapital following the death of its founder, Toshikiyo Hirata, in early 2024.

The deal was made quietly, with neither firm formerly announcing the acquisition. Kapital does now, however, appear on L Catterton’s official website, underneath a list of the firm’s majority investments. This was first noted by users on Reddit before being reported on by Highsnobiety.

The year of investment was cited on the page to be 2024, with the strategy listed as “Asia”. No further details of the deal have been released or confirmed.

The motive for L Catterton to snap up a stake in Kapital is unclear, however, it could be linked to the brand’s existing relationship with LVMH, which in turn holds a majority stake in the investment firm.

Hirata and his son Kiro had previously been tapped by Kim Jones to collaborate for part of Louis Vuitton’s spring/summer 2013 menswear collection. The brand, which will celebrate its 40th anniversary in 2026, has also found favour among celebrities like A$AP Rocky, who has previously been recognised by LVMH as a fashion pioneer.

However, it is likely that L Catterton’s interest in Kapital could also be tied into its plans to expand in Asia, for which last year it set out to establish three new regional investment vehicles, one with a particular focus on the Japanese market. With this, the firm intends to drive mid-market growth and buyout opportunities.