Is L Catterton-backed GXG mulling an IPO?

Chinese men’s fashion retailer GXG is said to be eyeing an initial public offering of stock (IPO) on Hong Kong Stock Exchange, according to people familiar with the matter.

Sources close to the fashion group, controlled by L Catterton Asia, said GXG is planning a Hong Kong initial public offering that could raise circa 300 million dollars.

The street fashion brand is working with investment banks on the proposed share sale, according to the people quoted by Bloomberg, who asked not to be identified because the information is private.

GXG would be aiming at listing this year, same sources advanced.

LVMH’s investment vehicle in Asia, L Catterton Asia, bought a majority stake in GXG in 2016. The company, founded in 2007, operates more than 2,100 stores in China and employs over 4,000 workers, according to a corporate filing dated in November last year.