Personal fairness fund L Catterton, which is backed by luxurious big 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 cope with the Percassi household, which can retain a “important stake” within the enterprise, in response to a press release on Friday.
Kiko, based in 1997 by Antonio and Stefano Percassi, is a worldwide beauty firm with a retail community of 1,100 shops in 66 international locations. The agency reported a web income of about €800 million ($859 million) in 2023, a 20 % improve versus the prior yr, it stated within the assertion.
L Catterton, the non-public 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 bunch of buyers who, collectively, maintain a minority curiosity in The Enterprise of Style. All buyers have signed shareholders’ documentation guaranteeing BoF’s full editorial independence.