Luxury Sector Expands into Private Aviation
L Catterton, the private equity firm affiliated with luxury powerhouse LVMH, has announced an $800 million investment in private jet company Flexjet. The deal, which grants the group a 20% stake, includes contributions from KSL Capital Partners and the J Safra Group. Flexjet will remain majority-owned by Directional Aviation Capital.
This move reinforces LVMH’s growing interest in the experience economy, as luxury consumers increasingly seek high-end travel and bespoke services. The partnership aims to link Flexjet with LVMH’s prestigious brand portfolio, including Louis Vuitton, Dom Perignon, Dior, and Tiffany & Co.
Flexjet Targets Experiential Luxury Travel
Flexjet’s leadership plans to use the funds primarily to expand infrastructure and meet surging international travel demand. That includes acquiring long-range aircraft, constructing new global maintenance facilities, and investing in flight crew training. Approximately 25% of the proceeds will be distributed as a special dividend to shareholders.
Flexjet, which offers fractional ownership, leasing options, and jet cards, is aiming to redefine luxury aviation. It operates a fleet of 318 aircraft, projected to reach 340 by the end of 2025. The company currently serves over 2,000 members and expects to generate $425 million in EBITDA this year.
Strategic Partnerships and Brand Synergy
While specific collaborations with LVMH brands are still under wraps, Flexjet’s model is expected to resemble its partnership with Belmond hotels, which provides exclusive travel experiences in elite locations such as Ravello, Mallorca, and Venice. Its aircraft interiors also draw inspiration from high-end hotel suites, reinforcing its image as an airborne luxury suite experience.
Flexjet Chairman Kenn Ricci noted that the firm aims to build a sense of community among members, extending the travel experience beyond short flights. “Luxury is evolving into the luxury of time,” Ricci said, highlighting how private aviation aligns with this new definition.
LVMH’s Continued Push Beyond Products
The deal reflects a broader trend in the luxury market. While sales of traditional luxury goods fell by 2% last year, experiential sectors such as hospitality and private aviation posted strong growth. Private jet and yacht sales rose 13%, while luxury dining and travel also outperformed.
L Catterton, which manages $37 billion in equity, has a growing presence in premium consumer brands. Its involvement with Flexjet is seen as a strategic step toward capturing the growing segment of affluent consumers seeking time-saving and exclusive travel experiences.
