L Catterton Asia Retires Portion of Its Stake in Sasseur Cayman

SINGAPORE,Oct. 11,2018 --L Catterton Asia,the Asian unit of the largest and most global consumer-focused private equity firm in the world,today announced that it has retired a portion of its stake in Sasseur Cayman Holding Limited ("Sasseur") as part of ongoing efforts to optimize current portfolio holdings. The partial redemption of its stake represents a normal course of action for the fund,and L Catterton Asia remains confident in Sasseur's growth opportunities as a leading premium outlet developer and operator in the People's Republic of China ("PRC").

"We continue to strongly believe in the long-term growth prospects of Sasseur and the opportunities it offers to investors in terms of exposure to China's fast-growing outlet mall industry," said Ravi Thakran,Chairman and Managing Partner of L Catterton Asia. "We will continue to support the company's growth initiatives as a Sasseur shareholder."

About L Catterton Asia

With over $15 billion of equity capital across six fund strategies in 17 offices globally,L Catterton is the largest and most global consumer-focused private equity firm in the world. L Catterton's team of more than 160 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth,leveraging deep category insight,operational excellence,and a broad thought partnership network. Since 1989,the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton,LVMH and Groupe Arnault. For more information about L Catterton,please visit lcatterton.com.

Launched in 2009,L Catterton Asia (previously known as L Capital Asia) is the Asian franchise of L Catterton,the world's leading consumer growth investor. It has offices in Singapore and Mauritius,with further regional advisory presence in Hong Kong,Mumbai,Shanghai and Sydney. L Catterton Asia invests in select consumer lifestyle businesses that will benefit from growing discretionary consumption in Asian markets. L Catterton Asia leverages its strategic relationship with LVMH and Groupe Arnault across the entire investment process,from proprietary deal origination and industry-specific due diligence to post-investment operational value-add to its portfolio companies. L Catterton Asia's investments include: Trendy International,Pepe Jeans,Gentle Monster,YG Entertainment,Impresario Entertainment & Hospitality and Sasseur- one the largest operators and developers of lifestyle-focused outlet malls in China.

About Sasseur Cayman Holding Limited

Headquartered in Shanghai,the PRC,the Sponsor Group is one of the leading premium outlet groups in the PRC,focused on the development and operation of retail outlet malls in the PRC. Founded in 1989,the Sponsor Group leverages on its founder,Mr Xu Rongcan's passion for art and culture to develop and design all of its retail outlet malls,offering a unique lifestyle experience for its customers. L Catterton Asia and Ping An Real Estate are strategic shareholders of the Sponsor. For more information about Sasseur Cayman Holding Limited,please visit sasseur.com.

L Catterton Contact

Andi Rose / Andrew Squire

Joele Frank,Wilkinson Brimmer Katcher

212-355-4449