LVMH-Backed L Catterton Invests in Hulic Redevelopment Project in Osaka

Global fund manager L Catterton has taken a stake in an Osaka redevelopment project led by Japanese property group Hulic as an upswing in international investment in Japanese real estate spreads to the country’s third-largest city.

The 28-storey building in the key commercial district of Shinsaibashi will offer a mix of retail, hospitality and office space across 46,241 square metres (497,734 square feet) of gross floor area, US-based L Catterton said in a release.

The project on Osaka’s Midosuji main street brings together a consortium of investors including Hulic, L Catterton, construction firm Takenaka, department store chain Parco and railway operator JR West.

“This project will be the first of its kind in Shinsaibashi’s most prime location and will set a new benchmark in terms of design and curation in Osaka,” said L Catterton, which is backed by French luxury goods giant LVMH and its founder, Bernard Arnault.

Luxury Shopping Hub

The Shinsaibashi project is a redevelopment of the Shinsaibashi Plaza Building and the Shinsaibashi Fuji Building at the junction of Midosuji and Nagahori-dori streets. The new building will feature a direct connection to Shinsaibashi station of the Osaka Metro.

Scheduled for completion in February 2026, the project will invite luxury brands to open two- and three-level boutiques on the lower floors of the structure and will also comprise a hotel and offices.

In 2016, consumer-focused private equity firm Catterton teamed with LVMH — famed for Louis Vuitton handbags and the Moet and Hennessy drinks brands — as well as Groupe Arnault, the family holding company of the LVMH boss, to create L Catterton.

The partnership combined Catterton’s North American and Latin American operations with LVMH and Groupe Arnault’s European and Asian private equity and real estate businesses, with the Connecticut-headquartered firm now managing more than $30 billion in equity capital.

Shibuya Super-Connector

The Shinsaibashi project is L Catterton’s second investment in a major Japanese project in less than a year.

Last July, the fund manager joined forces with Tokyu Corporation and Tokyu Department Store on the Shibuya Upper West Project, a mixed-use development in central Tokyo’s Shibuya district.

Located at the intersection of the Shoto and Yoyogi residential areas, the site currently occupied by Tokyu’s flagship department store will feature retail, a small luxury hotel operated by Hong Kong’s Swire Hotels, and rental residences.

Targeting completion in fiscal 2027, the Shibuya Upper West Project will become a “super-connector” of the affluent residential areas of Shoto and Yoyogi, the cultural neighbourhoods of Kamiyamacho and Tomigaya, and the lively Shibuya district, the partners said.