The $1.4 billion super deal with LVMH and the route from Milan around the world (photos)

Among the most successful makeup brands Kiko Milan They are always one step ahead of their game makeup Even one investigation Sound deal Like a company L Catterton, backed by LVMH, Bought a majority of its sharesin a deal that values ​​the low-cost, family-owned Italian makeup group at approx 1.4 billion euros ($1.5 billion), including debt.

Consumer goods specialist L Catterton buys stake from an Italian family Perkasiewho in 1997 founded what is now one of the largest makeup brands in the world.

Percassis will retain a “significant” stake in Kiko Milano, according to The New York Times ReutersThe outlook for the beauty industry is excellent. Its revenues rose by 20 percent last year to about 800 million euros, and it has more than 1,100 stores in 66 countries, while the global beauty market is expected to grow to $128 billion by 2032 from $78 billion last year, the magazine expects. “Fortune Business”.

“Quality, accessibility, personalized advice and innovative product packaging design are the defining elements of the brand,” Simone Dominici, CEO of Kiko Milano, said of the brand, which also sells online and some of its products. It is a bestseller apart from the dynamic Gen Z audience and across all age groups.

Domenici said Kiko Milano will expand into the US with support from L Catterton and senior advisor John Dempsey – a former Estée Lauder executive who developed the MAC cosmetics brand before resigning over the Instagram scandal.

Antonio Percassi

The Percassi Group operates more than 1,000 stores, has more than 9,000 employees worldwide and has an annual turnover of more than €800 million.

Essentially, the entrepreneur embodies one of the most remarkable success stories ever written in the Italian market. In fact, in a space with so many buzzworthy “names,” Perkasi has finally been able to put his name in it. A child of a large, poor family from the small town of Clusone in Bergamo, his big dream was to become a football star. He will continue this by playing as the main defender for Atalanta until he is 23 years old. Since then, he has been engaged in his great talent, trading.

In 1997 and still continuing Real estate investments He will make the decision to build his own brand, within the holding group he has created under the brand Epic (Epic).

Cosmetics company Kiko Milantoday It is the “flagship” company of the group with 1,100 points of sale in 20 countries. A series that has now begun to develop on Greek soil through it Fayez Group Who managed the master franchise of Kiko Milano in Greece, Cyprus, Bulgaria and Romania. The chain’s presence in Cyprus soon began to expand.

However, the “checkmate” move that galvanized Perkasi and Odyssia Holdings Group into action was the first step. Big deal with mr. ZaraSpanish businessman Amancio Ortega. With the “dawn” of the new millennium, the president of Inditex wanted to position the Zara chain (and others under the Inditex umbrella) in the difficult Italian market. Faced with the monsters of Italian fashion and clothing, he wanted an “ally”, and he found it in the person of Antonio Percassi. In 2001 they will form a joint venture, which in the same year will open the first store on Italian territory, and in the fashion capital of Milan!

This success will lead to one Rapid expansion of stores throughout the Italian territory Which will now be opened one by one.

This cooperation, in addition to the good and reliable name he has created during his long years of relationship with the Benetton Group, will open the door to deals with major international clothing companies. between them Nike, Calvin Klein, Swatch, Levi’s, Guess, Tommy Hilfinger, Gucci, Ferrari, Ralph Lauren, Victoria’s Secret. For all these matters he will undertake to create sales networks. With him too Flavio Briatorethe former Formula 1 strongman, will join forces to launch the clothing and footwear brand Billionaire Italian Couture.

In addition to clothing, it will enter into strategic partnerships in other sectors by developing stores in Italy Lego, Starbucks, and Wagamama And others. In 2012, he will take over the management of the fortunes of a historic Milan company in the field of women’s cosmetics, Medina. Soon after, Womo and Bullfrog will follow, dealing with men’s grooming and fashion.

Odyssey is gaining Four distinct sectors, in retail, food and beverage, cosmetics and real estate. In particular, in the latter, Percassi continues to be particularly active in the real estate sector, owning department stores and discount villages, such as Torino Outlet Village, Orio Center, Franciacorta Outlet Village, Antegnate Shopping Center and Sicilia Outlet Village. It also invested in building the largest shopping mall in Europe, Westfield Milan Shopping Centre.

Investment giant L Catterton

The American multinational private equity firm was founded in Greenwich, Connecticut in 1989 and has made more than 250 brand investments across all sectors of the consumer industry. The company is currently headed by J. Michael Chu and Scott Danke.

Its original form until 2001 was Catterton Partners, a firm that between 1992 and 2002 invested in well-known US consumer brands, including PF Chang’s, Odwalla and Baja Fresh.

He has completed investments in several growing consumer companies, including Peloton, Build-A-Bear Workshop, Ferrara Candy Company, Outback Steakhouse, Restoration Hardware, Wellness Pet Company, and Kettle Foods. In fact, in 2008, it launched its first growth fund aimed at investing in early and late-stage growth companies, such as Vroom, Sweety Betty, Il Makiage, Sweet Leaf Tea Company, and Tula.

In January 2016, Catterton, LVMH and Financière Agache (the family office under the name Groupe Arnault) collaborated to create L Catterton.

This partnership was based on a combination of Catterton’s existing private equity activities in North and Latin America with the pre-existing European and Asian private equity and real estate activities of LVMH and Groupe Arnault.

In May 2021, Private Equity International listed L Catterton as the 32nd largest private equity firm in the world based on funds raised over the past five years. Just keep in mind that in 2020, it raised more than $5 billion for its ninth buyout fund and more than $950 million for its fourth growth fund. It has also backed several notable investments, including Birkenstock, Indian tech giant Jio Platform, Ainsworth Pet Nutrition, Peloton, Nature’s Variety, Pinarello, Freetrade, Miami Design District, Cover FX, and Ginza Six.

It has already invested in more than 30 beauty brands, including Intercos, an Italian cosmetics manufacturer that supplies top luxury brands, British skincare company Elemis, Japanese ETVOS, haircare brand Maria Nila, and consumer technology company Oddity.

Greek Success Story and Vice Group

Faces Group was the first to bring the brand to Greece, as an exclusive distributor, in 2020. The first store opened at The Mall Athens, followed by the online store in early 2021, and physical stores operate in Athens, Thessaloniki, Patras, Nicosia and Larnaca. Paphos and Sofia, and pop-up stores and stores within stores in large shopping centres, while immediate plans are to establish new stores in Greece, Cyprus, Bulgaria and Romania.

During its first financial year (2021), Kiko Milano’s sales exceeded 3 million euros, with a total of only 5 stores, while 2022 and 2023 saw the chain develop at an intense rate both within and outside the Greek borders, exceeding expectations beyond expectations. Expectations. The performance of SLF Greece is evidenced by €8.4 million in trading volume last year.

What makes a brand special?

I started in Milan, the capital of fashion, art and design. Since then, it has revolutionized the world of cosmetics, as it combines professional quality with affordable prices.

The categories cover a wide range such as makeup products, facial care, nail care and also various professional accessories and brushes. Its main characteristics are continuous innovation, safety, versatility, excellent consistency and effectiveness of the products and all this at particularly affordable prices for the consumer. All European standards are followed and the products are cruelty free, with 75% produced in Italy and 99% in Europe.

Entering a KIKO store is not only about purchasing cosmetics, but also gives an overall authentic beauty experience. With the designer and architect Get KingoStores with an elaborate and upscale character provide the consumer with freedom and moments of luxury, satisfaction and fun. Finally, the stores are designed according to sustainability principles and with materials that improve energy efficiency.

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