L Catterton Takes Majority Stake in Kapital

Kapital, a 40-year-old Japanese brand known for handcrafted and elevated denim, has recently taken majority investment from the LVMH-affiliated PE firm L Catterton.

Neither party officially announced the deal; the investment became widely known only after users on Reddit noticed L Catterton had added Kapital to a website listing brands in which it has a majority interest. Highsnobiety then reported on the deal, which appears to have taken place last year.

Kapital’s new majority stakeholder arrives shortly after its founder, Toshikiyo Hirata, passed away in April 2024. Today, Kapital has established a cult following amongst menswear enthusiasts for its Japanese Boro denim and Americana-inspired wares. Although the label has limited distribution (with its retail stores only being located in Japan) its fanbase is global. Kim Jones notably collaborated with Kapital for Louis Vuitton’s Spring/Summer 2013 collection. While celebrity fans of Kapital, such as Travis Scott and A$AP Rocky, have increased the brand’s profile in recent years.

L Catterton, backed by LVMH and Groupe Arnault, the family holding company of LVMH owner Bernard Arnault, has been involved in many of fashion’s biggest deals since its formation in 2016. It took Birkenstock public in 2023, and acquired a majority stake in the French label A.P.C. that same year, and has made numerous other investments in fashion and beauty, as well as home goods, restaurants and even pet food.

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Editors Note: This story was amended on Jan. 6 to correct Kapital’s age.