LVMH invests in 2XU

04/12/2013
Luxury group LVMH Moet Hennessy Louis Vuitton has paid $80 million for a 40% stake in compression specialist 2XU through its Singapore-based investment fund L Capital Asia.

It reportedly wants to grow the brand in Asia, as well as Europe and the US, where it currency has one store.

The Australian company had sales of $65 million this year and Clyde Davenport, who founded the brand in 2005 alongside triathlete James Hunt and marketing specialist Aidan Clarke, said it is targeting $150 million by the end of 2015.