LVMH-backed investor group takes 20% stake in private jet company Flexjet
CNBC Televisionยท2025-07-21 14:45
LVMH is expanding its reach into the private jet market with Flexjet. El Caterton, that's the private equity firm that is backed by LVMH, is leading an investment of $800 million to buy 20% of Flexjet. Flexjet, of course, based in Cleveland, will use the proceeds to buy more large jets and add infrastructure, especially in Europe, where they're seeing a lot of growth right now.LVMH's 75 brands will also help FlexJet's goal of being a true luxury experience and a community of members. Flexet chairman Ken Ric ...