LVMH’s private equity fund L Capital Asia has invested US$100 million for a minority stake in Chinese beauty company Marubi Holdings Group.
Marubi is said to be the second largest shareholder of China’s cosmetics market.
“L Capital is impressed by Marubi’s mid-to high-end market positioning and its steady growth over the years,” said MD Ravi Thakran.
Thakran adds that L Capital has high hopes for the beauty company’s future prospects.
The new fund will used for R&D, advertising, marketing, M&A and global expansion.
Earlier this year, L Capital also invested in Australian bootmaker RM Williams.
Thakran said L Capital’s investments target brands that are alternative, aspirational and affordable.