L Catterton invests in cosmetics brand Il Makiage
Israeli cosmetics brand Il Makiage is the latest brand to receive an investment from L Catterton. The private equity firm invested $34 million into the brand on Tuesday for a 35.8% stake.
The L Catterton Growth Fund, a partnership between L Catterton, LVMH, and Groupe Arnault, announced in March and April investments in four brands in a span of two weeks. Tula skincare was the first brand to receive an investment from the partnership, followed by Rhone Apparel, bikini brand Maaji swimwear, and Mizzen + Main.
The latest brand, Il Makiage, will use the capital to expand internationally and enter the US market.
"Following the acquisition of ownership of the international Il Makiage brand, the current investment constitutes a major milestone in the brand's global expansion plan,” said Il Makiage CEO Oran Holtzman. “I have no doubt that the investment will enable us to realize our vision of positioning Il Makiage as a leading global professional cosmetics brand."
Founded by Ilana Harkavi in 1972, Il Makiage offers 800 beauty products and does not test its products on animals. Holtzman acquired Il Makiage in 2013, and today the brand has 41 stores in Israel.
Copyright © 2021 FashionNetwork.com All rights reserved.