High performance Australian sports brand 2XU and Lazard Australia Private Equity have announced a new partnership with private equity fund L Capital Asia after the fund acquired a 40% interest in 2XU. L Capital Asia is sponsored by global powerhouse LVMH Moët Hennessy Louis Vuitton S.A. (LVMH), Groupe Arnault and YTL Corporation Berhard.

2XU produces innovative products in the technical sportswear market, using cutting-edge fabrics and technology. It was founded in Melbourne in 2005 and has gone on to build a global distribution network that covers more than 50 countries. Its products are used around the world, from athletes at the Australian Institute of Sport, to NBA and NGL stars in North America. 2XU has exceeded revenue growth in excess of 40% over the past five years, and “is still in the infancy of its growth potential”.

According to a statement, 2XU and Lazard Private Equity selected L Capital Asia as an equity partner with a shared vision, that can provide 2XU with a consumer markets understanding and access to global markets, through its wide network and the LVMH Group.

“We are thrilled to have L Capital Asia as a partner,” says 2XU Executive Chairman and Co-Founder, Clyde Davenport. “We believe that its experienced international team will accelerate us towards our goal of becoming Australia’s first major global sportswear brand.”

Lazard Private Equity has partnered with 2XU since 2011. “During this time,” says Director of Lazard Private Equity, Gareth Young, “the business has doubled its turnover, profit and been highly cash generative. We selected L Capital Asia as a like-minded and value-adding partner which can strengthen 2XU’s global growth plan.”

Managing Partner of L Capital Asia, Ravi Thakran says he is delighted to partner with the founders, management and Lazard Private Equity on 2XU’s journey.

“2XU signifies a winning proposition of best in class product preferred by Pros across varied sports, with design and innovation rooted in Australia, one of the world's most active countries, coupled with an extremely passionate and driven management team,” Thakran says. “We firmly believe that the combination of this strong proposition, with our unique approach to performance enhancement across our portfolio companies will help the brand in achieving its full potential as a strong, globally recognised performance sportswear brand.”