In a major expansion into the high-end travel sector, an investor group led by L Catterton, the private equity firm with a special relationship with luxury conglomerate LVMH, has made an $800 million equity investment in private jet company Flexjet. The landmark deal, which also included participation from KSL Capital Partners and the J. Safra Group, is the largest of its kind in the history of private aviation. This transaction values Flexjet at approximately $4 billion.
This strategic move is a clear signal of LVMH’s pivot toward the rapidly growing “experience economy,” where ultra-high-net-worth individuals are increasingly allocating their spending. As global sales of traditional luxury goods face a challenging market, the demand for exclusive, bespoke travel and lifestyle experiences continues to surge.
Flexjet, which is celebrating its 30th anniversary, has been a leader in catering to this elite clientele. The company’s vision is to operate as an exclusive club rather than a simple transportation provider, offering a curated travel experience that extends far beyond the flight itself. This aligns perfectly with L Catterton’s stated goal of collaborating with Flexjet on consumer insights, brand strategies, and luxury product delivery.
According to a company statement, the new capital will support Flexjet’s ambitious growth plans, which include augmenting its fleet—particularly its long-range aircraft—and expanding its network of branded private terminals. The company has also recently announced partnerships with luxury brands like Riva Yachts and Bentley Motors to offer exclusive experiences to its clients, a strategy that is expected to deepen significantly with the new LVMH-backed investment.
Flexjet Chairman Kenn Ricci emphasized that the company was not actively seeking financing but was approached by L Catterton, who recognized the potential for synergy between the two organizations. Ricci stated that this partnership “provides the perfect opportunity for collaborating in areas such as consumer insights, brand strategies, retail expansion, and luxury product delivery.”
The deal allows Flexjet’s existing shareholders and management, including Chairman Kenn Ricci, to retain control of the company. However, the partnership is set to accelerate Flexjet’s evolution into a vertically integrated provider of high-end aviation services, with a strong focus on creating a luxury lifestyle ecosystem for its clients. This strategic alliance is a powerful new front in the luxury sector’s ongoing evolution.
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