L Capital, the investment vehicle of LVMH and Groupe Arnault, has acquired a 10% stake in Chinese fashion company Trendy International Group in a deal reportedly worth $200 million ($152 million).
A spokeswoman for the private equity fund said the deal had gone ahead, although she did not confirm the value.
According to reports, L Capital teamed up with China's state-owned financial conglomerate China Citic Group to acquire a direct 10% stake in Trendy, although L Capital is thought to own the majority of the shares.