Home Private Equity LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko

LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko


Private equity fund L Catterton, which is backed by luxury giant LVMH Moet Hennessy Louis Vuitton SE, agreed to buy a majority stake in Italian beauty brand Kiko.

L Catterton has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business, according to a statement on Friday.

Kiko, founded in 1997 by Antonio and Stefano Percassi, is a global cosmetic company with a retail network of 1,100 stores in 66 countries. The firm reported a net revenue of about €800 million ($859 million) in 2023, a 20 percent increase versus the prior year, it said in the statement.

L Catterton, the private equity arm of LVMH’s founder Bernard Arnault, has invested in over thirty beauty brands globally, including Intercos, Elemis, ETVOS, Maria Nila, and Oddity.

By Alberto Brambilla

Sign up to The Business of Beauty newsletter, your complimentary, must-read source for the day’s most important beauty and wellness news and analysis.

Learn more:

Kiko Milano May Bring in New Investor to Fund Growth

The Italian fast-beauty brand is in talks to bring in a minority investor to help fund growth in India, the Middle East and Asia.

Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.

Source link


Please enter your comment!
Please enter your name here