International investment fund LetterOne has founded L1 Retail, whose target it is to invest three billion dollars (2.9 billion euro) in the “future stars of retail”.
Potential to become market leader
At first, L1 Retail will look for companies in Europe and emerging markets, excluding Russia. It will invest three billion dollars in a small number of retailers with the potential of becoming a market leader in their branch and market. The focus will be on companies with a good balance between pricing and quality, ease of use and companies in the health and wellness industries. Unique business models will feature prominently.
“We look forward to collaborations with experienced management teams to create new leaders in retail”, L1 Retail CEO Stephan DuCharme said. Former Home Retail Group CEO, John Walden, and dunnhumby founder, Clive Humby, will be part of the L1 Retail’s advisory board.
