Platinum is said to mull sale of Hong Kong lingerie, swimwear firm Hop Lun

Platinum Equity is considering options for lingerie and swimwear maker Hop Lun, including a possible sale, according to people familiar with the matter.

The US private equity firm has held early stage discussions with prospective advisers to help prepare for a potential sale, the people said, asking not to be identified because the deliberations are private. Hong Kong-based Hop Lun might be valued at as much as $1 billion, the people said.

Other private equity firms and industry players may be interested, the people said. Talks are ongoing and won’t necessarily result in a sale, they said.

Platinum acquired a controlling stake in Hop Lun in September 2022 from the company’s founder Erik Ryd for an undisclosed amount. Established in 1992, Hop Lun has clients including Victoria’s Secret & Co. and Hennes & Mauritz AB. It has more than 30,000 employees across Bangladesh, Indonesia, China, and Hong Kong, according to its website. Past acquisitions by the company include Lintas last year and P.H. Garment in 2024.

A representative for Platinum declined to comment. Hop Lun didn’t respond to a request seeking comment, while Ryd declined to comment.