LVMH’s $800M Investment Expands Flexjet’s Luxury Private Aviation Reach

San Diego, California — An investment group led by the private equity firm L Catterton has acquired a 20% stake in Flexjet, a private jet company, for $800 million. This investment marks a significant move in the luxury travel sector and involves various brand collaborations.

L Catterton, backed by French luxury conglomerate LVMH, includes affiliates from KSL Capital Partners and the J Safra Group. This deal aims to enhance Flexjet’s operations, currently led by parent company Directional Aviation Capital, as wealthy consumers increasingly spend on exclusive travel experiences.

The deal highlights the growing luxury sector’s shift into experiential offerings. Although global sales of luxury goods dropped by 2% last year, luxury hospitality saw a 4% growth with the private jet market surging by 13%. Flexjet’s chairman, Kenn Ricci, noted the importance of creating a community around the brand.

“We have been trying to move Flexjet into an experiential role,” Ricci said. He envisions a Flexjet community that provides unique experiences akin to luxury hotels but tailored for flight.

Flexjet intends to invest a substantial portion of the proceeds into infrastructure improvements, including acquiring larger aircraft for increased international travel demand. The interface will also expand overseas with new maintenance facilities and ground operations, in addition to hiring more flight crew through its training academy.

Flexjet reported an anticipated EBITDA of approximately $425 million this year, up from $398 million in 2024. Its fleet is projected to expand from 318 to 340 aircraft by 2025, with a growing membership for fractional ownership.

Ricci mentioned that L Catterton approached them with interest in exploring luxury travel’s future. “They see that the luxury of the future is time,” he explained, connecting private jet travel to significant time savings for wealthy individuals.

Although specific details about potential collaborations remain undisclosed, Ricci highlighted Flexjet’s successful partnerships with brands like Belmond and Bentley, which enhance their offerings and customer experiences.

Flexjet’s innovative approach aims to position itself as a luxury brand rather than seeking the largest market, emphasizing quality experiences. As competition intensifies with industry leader NetJets, Ricci stated, “We want to be the boutique.”

L Catterton and its investment will help solidify Flexjet’s place in the luxury travel market amidst changing consumer preferences.