Personal fairness fund L Catterton, which is backed by luxurious large LVMH Moet Hennessy Louis Vuitton SE, agreed to purchase a majority stake in Italian magnificence model Kiko.
L Catterton has entered right into a definitive take care of the Percassi household, which is able to retain a “vital stake” within the enterprise, in line with a press release on Friday.
Kiko, based in 1997 by Antonio and Stefano Percassi, is a world beauty firm with a retail community of 1,100 shops in 66 nations. The agency reported a web income of about €800 million ($859 million) in 2023, a 20 % enhance versus the prior yr, it mentioned within the assertion.
L Catterton, the personal fairness arm of LVMH’s founder Bernard Arnault, has invested in over thirty magnificence manufacturers globally, together with Intercos, Elemis, ETVOS, Maria Nila, and Oddity.
By Alberto Brambilla
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Disclosure: LVMH is a part of a gaggle of buyers who, collectively, maintain a minority curiosity in The Enterprise of Trend. All buyers have signed shareholders’ documentation guaranteeing BoF’s full editorial independence.
