L Catterton Acquires 20% Stake in Flexjet, Signaling Luxury Travel Growth

In a significant move within the luxury travel sector, L Catterton, the private equity firm backed by LVMH Moët Hennessy Louis Vuitton, has acquired a 20% stake in the private jet company Flexjet as part of an $800 million investment. This deal, announced on July 21, 2025, reflects the luxury industry's ongoing transition towards the experience economy, where affluent consumers are increasingly prioritizing travel, dining, and exclusive events.

The investment, which includes collaborations and brand partnerships, positions Flexjet to enhance its offerings amid rising demand for private air travel. Flexjet, which operates under the parent company Directional Aviation Capital, remains primarily controlled by its existing management while benefiting from L Catterton's extensive network of luxury brands, including Louis Vuitton, Dior, and Tiffany & Co.

Kenn Ricci, chairman of Flexjet and principal of Directional Aviation, noted that the investment will be pivotal in expanding Flexjet's infrastructure, focusing on acquiring larger, long-range aircraft to meet the growing international travel demands. "We have been trying to move Flexjet into an experiential role," Ricci stated, emphasizing the need to create a community around the luxury travel experience.

The deal highlights a broader trend within the luxury sector, which has seen varied performance in recent years. While global sales of luxury goods dropped by 2% to €363 billion in 2024, according to a report from Bain & Company and Altagamma, luxury hospitality and private travel have shown resilience and growth, with private jets witnessing an impressive 13% increase in sales.

Flexjet's strategy aims to differentiate itself from competitors, particularly NetJets, by fostering an exclusive membership experience. The firm has already established partnerships with luxury brands such as Belmond and Ferretti Group, integrating luxury experiences into their travel offerings. As Ricci described, Flexjet is not merely about the flight; it's about the entire luxury experience that extends beyond the aircraft itself.

Scott Dahnke, global CEO of L Catterton, remarked on the partnership's potential, stating, "Flexjet's history is one of never settling in pursuit of thoughtful innovation to best fulfill the desires of the consumers within their unique and exciting marketplace." He noted that L Catterton's investment approach is centered on anticipating the evolving definitions of luxury, with time becoming a critical currency in private travel.

The investment proceeds will also facilitate the expansion of maintenance facilities and training programs for flight crew, ensuring that Flexjet maintains high service standards as it grows. Approximately 25% of the proceeds will be allocated for shareholder dividends, further solidifying investor confidence in the firm’s trajectory.

As the luxury travel market continues to evolve, the collaboration between L Catterton and Flexjet exemplifies a strategic alignment with wealthy consumers' preferences for personalized and high-end experiences, indicating a promising outlook for the luxury aviation sector in the coming years.