L Capital Asia interested in South Korean beauty brand
L Capital Asia, owned by the LVMH luxury goods group, is expected to acquire a minority interest in South Korean cosmetics brand Clio Cosmetics. The news was reported by WWD, citing a source close to the matter. L Capital Asia could invest $50 million in the cosmetics label.
L Capital is not the only investment company interested in South Korean beauty brands. Bain Capital Private Equity and Goldman Sachs have recently acquired a majority interest in the Carver Korea brand, which is distributed in Korea and China.
Last October, US cosmetics group Estée Lauder has acquired a share in South Korean company Have & Be Co., owner of skincare brands Dr Jart+ and Do The Right Thing.
Korean cosmetics brands indeed appear to be booming. The digital innovation think tank L2 has highlighted this trend, indicating that South Korean exports now account for a quarter of beauty products exports into China, and have risen by 126% year-on-year.
Copyright © 2022 FashionNetwork.com All rights reserved.