In June 2012, CVC funds invested US$100 million for a 15.2% interest in C.banner International Holdings Limited (‘C.banner') through a combination of secondary shares in the company, exchangeable bonds issued by the three major shareholders as well as convertible bonds issued by the company. Two other investors invested in the company alongside CVC.

Founded in 1995, C.banner has since grown into the second largest shoe company in the mid-to-premium women's footwear market in China with a 7.4% market share. It operates a vertically integrated model that encompasses design, manufacturing, distribution and retailing. The company's products are sold under five brands (C.banner, EBLAN, Sundance, Mio and Naturalizer) through an extensive retail network of 1,824 outlets (as at March 2012) across China.

The company is listed on the Main Board of the Hong Kong Stock Exchange (stock code: 1028).

Year of investment



Ladies’ footwear