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GXG said to be planning $300m IPO

Chinese men’s fashion retailer GXG, controlled by L Catterton Asia, is planning a Hong Kong IPO that could raise about US$300 million.

Insiders say the Ningbo-based street-fashion brand is working with investment banks on the proposed share sale, and is preparing to list as soon as this year.

L Catterton Asia, the consumer-focused private equity firm backed by luxury giant LVMH, bought a majority stake in GXG in 2016. The company, founded in 2007, runs more than 2100 stores in China and employs more than 4000 workers.

GXG stands for “Go-Getter Mix Glitterati”, according to the company’s website.

An official at L Catterton Asia has declined to comment on the possibility of an IPO, while

GXG has not responded to requests for comment.

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