KKR's investment in men's casual wear retailer

05 Dec '11

2 min read

Kohlberg Kravis Roberts & Co. L.P. (KKR) announced that KKR China Growth Fund L.P., a China focused investment fund managed by KKR, has entered into a definitive agreement to invest US$60 million into China Outfitters Holdings Limited (China Outfitters), a leading menswear retailer in China. KKR was a cornerstone investor in China Outfitters' Initial Public Offering.

China Outfitters is a leading and fast-growing menswear design, manufacturing and sales company in China. It offers a wide range of men's casual wear under several well-known brands locally with foreign origin, including JEEP, Santa Barbara Polo & Racquet Club and London Fog. China Outfitters has built up an extensive sales network comprising more than 1,000 stores nationwide, delivering 34% and 81% revenue and net income CAGR over the past three years.

"We are very impressed by KKR's global resources and China team's strong track record in China," said Zhang Yongli, CEO of China Outfitters. "China Outfitters truly values KKR as a long-term partner to further grow our business as KKR will be able to provide China Outfitters with valuable advice and support on areas for operational improvement, capital markets access and strategic initiatives."

"KKR is investing in China Outfitters because of their high quality and dedicated management team with solid execution capabilities, strong performance and long-term vision for the future," said David Liu, Member of KKR and CEO of KKR Greater China. "In addition, the menswear market in China has enormous growth potential. Market leaders such as China Outfitters have significant room to increase market share. We look forward to fully utilizing our global resources and working with them to further grow the business."

China Outfitters is a fast-growing, menswear-focused apparel design, manufacturing, marketing and sales company in China. The Company offers a wide range of men's casual wear under several internationally renowned, mid-to-high end brands, including JEEP, Santa Barbara Polo & Racquet Club, Sideout, Hallmark and London Fog.

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $58.7 billion in assets under management as of September 30, 2011. With 14 offices around the world, including Beijing, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes.

Kohlberg Kravis Roberts & Co. L.P.