Aspirational Consumer Lifestyle Corp., a blank check company formed by executives at LVMH and L Catterton targeting a lifestyle business, filed on Friday with the SEC to raise up to $225 million in an initial public offering.
The Singapore-based company plans to raise $225 million by offering 22.5 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed price, Aspirational Consumer Lifestyle Corp. would command a market value of $281 million.
The company is led by CEO and Chairman Ravi Thakran, the Group Chairman of luxury goods conglomerate LVMH South and South East Asia and Australia/New Zealand. Thakran is also the founder of L Capital Asia, the Asian private equity venture of LVMH; L Capital merged with Catterton in 2016 to form L Catterton. Vice Chairman Mark Bedingham is currently the CEO of Singapore Myanmar Investco and an Executive Chairman of two major hospitality companies owned by L Catterton. President Lisa Myers is the co-founder and Managing Partner of global consumer-focused private equity firm Clerisy and a former Partner at L Catterton, where she focused on L Catterton Flagship Buyout Fund.
The company plans to target businesses with premium brands that offer an aspirational lifestyle experience to consumers, which it refers to as the "aspirational lifestyle space."
Aspirational Consumer Lifestyle Corp. was founded in 2020 and plans to list on the NYSE but has not selected a ticker yet. The company filed confidentially on July 29, 2020. Credit Suisse is the sole bookrunner on the deal.
