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  "documentTitle": "Global Fashion & Luxury Private Equity and Investors Survey 2021",
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      "text": "Key findings\nIn 2020, investors were still oriented towards lower-sized firms (less than $51m sales) which accounted for 59% of deals in the year, but less than in 2019 (62%). There was a slight increase in deals involving players in the Medium size market, $51-$250m, by 3 pts (+25.7%% CAGR 2018-20). Deals involving multiples higher than 15 times the EBITDA decreased (representing 50% of the total), while there was an increase in deals positioned on EBITDA multiples of both 5-10x and 11-15x.",
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      "text": "Deal EV/EBITDA Multiple",
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      "text": "EV/EBITDA multiple: 59%",
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      "text": "Compared to the previous year, buyers slightly increased the number of deals related to medium sized firms, with an increase in the 11x-15x EV/EBITDA multiple category (18% of deals in 2020, vs. 14% in 2019) and in the 5x-10x category (32% in 2020, vs. 27% in 2019).",
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      "text": "Note: The target sales class has been calculated for all companies with financial data which is publicly available | Source: Elaboration on Deloitte intelligence data",
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