Ethnic wear brand, Soch has held talks with private equity (PE) funds, including L Catterton, Westbridge Capital and CX Partners, for a majority stake sale valuing the company at around $200 million. Soch?s share sale comes at a time when investors have been scouting for companies in the fast-growing domestic womenwear market buoyed by rising disposable income among urban women, who are joining the workforce.
Once completed, the transaction, which is likely to give a controlling stake to the investor, would emerge as a rare one in the domestic clothing sector where most PE funds have picked up smaller stakes. L Catterton is the combined entity after LVMH-backed L Capital merged with Greenwich-based Catterton last year. In its earlier avatar, L Capital had bet on domestic fashion and apparel players like FabIndia and Genesis Luxury Fashion, which retails brands like Jimmy Choo and Satya Paul, among others.