(Bloomberg) -- Hop Lun (Hong Kong) Ltd., a lingerie maker that counts Victoria’s Secret and H&M as clients, is considering the sale of a partial stake to fund its expansion.
The company is looking for financial investors including private equity firms, Swedish owner Erik Ryd said in a phone interview. Any deal could the business at $400 million to $500 million, people with knowledge of the matter said.
Hop Lun is working with a financial adviser and has started reaching out to potential investors, according to the people, who asked not to be identified because the information is private. It aims to finalize a deal next year, the people said, asking not to be identified because the information is private.
Ryd said he will continue to run the operations after any transaction, declining to comment on any further details of a deal. Deliberations are at an early stage and valuation of the assets could still change, the people said.
Hop Lun, founded by Ryd in 1992, owns eight manufacturing facilities in three countries including China and has nearly 30,000 employees, according to its website. The company has set a five-year plan with targets on expanding production capacity in countries such as Myanmar, Cambodia, Vietnam and Ethiopia, its website shows.
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