Business Of Luxury | Private Equity in Beauty & Luxury Business

L Catterton Acquires Majority Stake in Kiko Milano
L Catterton, the private equity firm under LVMH. L Catterton has a track record of global investments in the beauty and personal care sector like Tula, Merit, Oddity, Function of Beauty, The Honest Company, Elemis, Nutrafol, Intercos, and Chinese beauty company Marubi.

L Catterton has launched the Elevate Beauty Fund to target early-stage companies aiming to provide not just financial capital but also strategic partnership, and guiding brands through pivotal growth phases.

Elevate Beauty's investment strategy is to favor deals in the $2 million to $15 million range

Kiko Milano, established in 1997, has become a significant player in the global beauty industry. In 2023, the company reported sales of €798 million, an increase of 19% from the previous year. It currently operates over 1,100 stores in more than 66 markets worldwide.

The deal is expected to further expand Kiko Milano's reach, particularly in the U.S., leveraging L Catterton’s extensive experience in scaling consumer brands.

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