KKR Announces Investment to Support Growth of China Apparel Retailer Novo (Asia)

Source: Kohlberg Kravis Roberts & Co.

Kohlberg Kravis Roberts & Co. (KKR) has announced a US$30 million investment into Chinese fashion apparel retailer Novo Holdco through the KKR China Growth Fund, a China-focused private equity fund. Novo Holdco manages 11 proprietary retail stores within China and operates a franchise of over 80 stores under the brand “Le Sportsac.”