Vintage retailer LXR to raise $5 mln from Gibraltar, Rattha

LXRandCo Inc (TSX: LXR), a Montréal-based omni-channel retailer of branded vintage luxury handbags and accessories, has launched a private placement to raise about $5 million. The investors are affiliates of Gibraltar & Co, a Canadian consumer-focused private investment firm, and Star Orange Enterprise Pte Ltd, an affiliate of Rattha Group. LXR will use the proceeds to fund its strategic plan, which includes expanding the company's retail network in Canada and the United States. In 2017, Gibraltar Growth Corp, a Canadian special purpose acquisition corporation (SPAC), acquired LXR Produits de Luxe International Inc for $82.5 million. The SPAC was renamed LXRandCo.

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