LVMH-backed private equity fund Moët Hennessy Louis Vuitton has targeted beauty powerhouse Kiko Milano.

After months of speculation, L Catterton announced on Friday that it had acquired a majority stake in the company. So the lord wants to get his hands on the world’s beauty.

Created in 1997 by entrepreneurs Antonio and Stefano Percassi, Kiko Milano is controlled by Percassi’s Odissea Srl holding company and generated revenue of €798 million in 2023, up 19% year-on-year. previous year and ranking 49th in the annual ranking of the world’s largest beauty companies by sales. The company has more than 1,100 stores worldwide and sells its products in more than 66 markets.

The deal aims to further accelerate the brand’s global growth, particularly in the United States. Last year, Kiko’s sales in the Americas increased by 43% compared to 2022, while those in Asia and Europe increased by 21.3% and 18.6%, respectively. There will be no competition for Sephora, that’s life.