Aspirational Consumer Lifestyle Corp. SPAC: What Investors Should Know
A new special purpose acquisition company, Aspirational Consumer Lifestyle Corp., will target premium consumer brands that have a focus on millennials and Generation Z.
The Leadership Team: Ravi Thakran is the chairman and CEO of this SPAC. He's the group chairman of LVMH Moet Hennessy Louis Vuitton SA (Pink: LVMUY) South/SE Asia and Australia/New Zealand.
He also serves as the chairman of L Catterton Asia, an LVMH private equity venture. Thakran is responsible for helping invest in more than 35 high-growth brands in Asia, including five that have more than $1 billion in annual revenue.
LVMH has 75 brands across six sectors. Popular brands in the portfolio include Hennessy, Dom Perignon, Christian Dior, Marc Jacobs, TAG Heuer, Sephora and Fenty, the last of which was founded by Rihanna and acquired by LVMH last year.
L Catterton has $20 billion in assets and is the largest consumer-focused private equity firm in the world. L Catterton will have a minority investment in this SPAC.
The Offering: The company plans to list on the NYSE, with no ticker yet named. Aspirational Consumer Lifestyle is offering 22.5 million shares at $10 each. Each share comes with one-third of a warrant to buy a share at $11.50.
About Aspirational Consumer Lifestyle Corp: The company wants to find a premium consumer brand with an emphasis on younger shoppers, according to the filing.
Among the investment criteria listed in the filing are that it be a high-quality brand with an established consumer base that is at an inflection point, with attractive potential returns and plans for international expansion.
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