Group 1 - L Catterton led an $800 million investment in Flexjet, acquiring a 20% stake, while Flexjet's parent company, Directional Aviation Capital, retains control [1][3] - The investment reflects the luxury industry's expansion into the experience economy, driven by increasing spending from affluent consumers in travel, dining, and special events [1][3] - Despite a projected 2% decline in global luxury goods sales to €363 billion in 2024, luxury hotels are expected to grow by 4%, high-end dining by 8%, and yacht and private jet sales by 13% [1] Group 2 - Flexjet, headquartered in Cleveland, offers fractional ownership and leasing services with a fleet of 318 aircraft, expected to grow to 340 by the end of 2025, and has over 2,000 members [3] - The investment will primarily fund infrastructure expansion, including the purchase of larger long-range aircraft and the establishment of maintenance facilities overseas, with about 25% of the proceeds allocated for special dividends to shareholders [3] - Flexjet differentiates itself through partnerships with brands like Belmond, Ferretti Yachts, and Bentley, focusing on bespoke experiences rather than becoming the largest player in the industry [3] Group 3 - L Catterton, which holds 40% of its shares from LVMH and the Arnault family office, manages $37 billion in consumer brand equity capital, with a portfolio that includes brands like Birkenstock and Etro [4] - The investment signifies the luxury industry's emphasis on the "value of time," with Flexjet's CEO highlighting the potential of private travel to save time as a key direction for future luxury definitions [4] - Flexjet's EBITDA is projected to reach $398 million in 2024, increasing to $425 million in 2025, more than doubling since 2020 [4]