L Catterton, a Greenwich, CT-based global consumer-focused investment firm, announced that it has entered a definitive agreement to acquire a majority stake in the Italian beauty brand KIKO Milano from the founding Percassi Family, who will retain a significant stake in the company.
The amount of the deal was not disclosed.
The investment will enable the beauty brand to expand globally.
Founded in Bergamo, Italy, in 1997, by Antonio and Stefano Percassi, and led by CEO Simone Dominici, KIKO is a color cosmetics brand which become a household name in beauty across nearly all consumer demographics. With a retail network of more than 1,100 stores in 66 countries and an e-commerce platform, KIKO recorded net revenue of approximately Euro 800M and nearly 20% year-over-year growth in 2023.
Antonio Percassi will retain the position of President of the company.
Percassi is a diversified group engaged in the development and management of franchised retail networks for renowned brands including Nike, Jordan, Victoria’s Secret, Bath&Body Works, LEGO, Gucci, Armani Exchange, Saint Laurent, Garmin, and Starbucks. Additionally, the group operates its own brands such as KIKO Milano, Womo, and Bullfrog, and is active in the sports sector with Atalanta.
FinSMEs
29/04/2024