L Capital makes Chinese investment

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.

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