An institutional investor based in Chicago, Winona Capital Management, has acquired a minority stake in LK International, the Swiss company that markets the Kjus brand of activewear, through a capital increase. A partner in Winona, Luke Rees, has been appointed to LK's board of directors. As he was for many years in charge of Amer Sports' European operations, Rees' expertise and his contacts will be helpful for LK's diversification into new segments such as golf. The terms of the transaction could not be learnt. LK's president, Didi Serena, says his company is “extremely strong” financially. It continued to grow at double digits last year in terms of local currencies, but not in terms of Swiss francs. His family is still in control of the company and Lasse Kjus, the former cross-country ski champion, remains a minority shareholder. One of Didi Serena's sons, Sven Serena, is going to move to Hong Kong next May to expand LK's Asian sourcing operations.

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