Private equity firm backed by LVMH to buy stake in owner of Kildare Village

Deal comes at a time when the luxury sector is struggling with weak demand worldwide amid a subdued economic outlook

Along with Kildare Village, Value Retail owns similar outlets in London, Milan, Paris, Madrid, and Barcelona among others. Kildare Village opened in 2006. 

Private equity firm L Catterton, which is backed by French luxury fashion house LVMH, has agreed to buy a 42% stake in outlet mall landlord Value Retail from the UK firm Hammerson.

The transaction includes interests in nine luxury retail properties, including the Bicester shopping village, about 60 miles northwest of London, according to a statement Monday.