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K-beauty boom fuels $1.6bn deal spree as private equity chases South Korea’s rising stars
South Korea’s booming cosmetics sector has captured the attention of private equity firms, with 18 deals totalling KRW2.3tn ($1.6bn) recorded in 2024, according to Bloomberg. The sharp rise in M&A activity comes as the country becomes the top cosmetics exporter to the US, overtaking France. Strong US demand, powered by K-pop and K-drama-driven brand visibility,…
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Prada nears landmark Versace acquisition in a €1.5bn power play
Prada is nearing a deal to acquire Versace for nearly €1.5b, in what could be one of the biggest shake-ups in Italian luxury. According to sources close to the negotiations, Prada and Capri Holdings – Versace’s parent company – are expected to finalize the deal this month, provided talks remain on course. The acquisition would…
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L Catterton-backed Birkenstock faces legal hurdle in design protection effort
Birkenstock, the German footwear brand backed by private equity firm L Catterton, lost a key legal battle as Germany’s highest civil court ruled that its sandals do not qualify as copyrighted works of art. The decision allows competitors, including retailer Tchibo, to continue selling similar models, posing a challenge to Birkenstock’s brand protection strategy. L…
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1686 Partners invests in luxury eyewear brand Ahlem to drive global expansion
Ahlem, the Los Angeles-based luxury eyewear brand, has secured its first external investment from Luxembourg-based private equity firm 1686 Partners. The firm, which specializes in purpose-driven lifestyle companies, will support Ahlem’s global growth by enhancing its retail footprint, client services, wholesale operations, marketing, and production capacity. While the financial details of the transaction remain undisclosed,…
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Huda Beauty reclaims independence as Mona Kattan and General Atlantic take over KAYALI
Huda Beauty is redefining its future with the sale of its fragrance brand, KAYALI, to co-founder Mona Kattan and private equity firm General Atlantic. This strategic move paves the way for Huda Beauty to regain full founder ownership, marking a rare milestone in the beauty industry. Founded in 2018 by Mona Kattan under the Huda…
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Editorial: The Deals, Disruptions, and Power Shifts Shaping Luxury
Luxury fashion is no longer just about the clothes. I hasn’t been for a long time now. It’s an intricate chessboard where billion-dollar gambits, power struggles, and seismic creative shifts determine who reigns supreme. The stakes? Cultural dominance, financial empires, and the future of an industry in flux. It’s a high-stakes arena where billion-dollar deals…
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Steve Madden expands global portfolio with £289m Kurt Geiger acquisition
Steve Madden has announced its acquisition of UK-based footwear and accessories brand Kurt Geiger in a deal valued at approximately £289m. The transaction sees the US fashion powerhouse acquire the British brand from private equity firm Cinven, as it looks to strengthen its international presence and expand its portfolio of accessories. The acquisition brings Kurt Geiger…
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Editor’s Letter – Fashion’s Next Act: A Tale of Reinvention
Fashion has always been embedded in transformation – of materials into garments, of trends into cultural markers, of businesses into empires. But today, the industry’s evolution feels particularly cinematic. Private equity titans, together with legacy designers, and rising investors are rewriting the script of a high-stakes drama. When I worked as a theatre costume designer…
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The Business of Skincare: Inside Beauty’s Investment Boom and Changing Consumer Trends
In my early twenties, I experienced two difficult bouts of acne. This came very unexpectedly, given that as a teenager, I was blessed with clear, blemish-free skin. Each time, I scoured the internet for solutions, only to be met with an avalanche of conflicting advice. One day, niacinamide was the Holy Grail; the next, it…
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All eyes on Versace: Gucci Ex-CEO joins high-stakes bid for iconic fashion house
Former Gucci CEO Marco Bizzarri is reportedly pursuing an acquisition of Versace through his investment firm, Nessifashion. The $6bn sale of the iconic Italian brand, owned by Capri Holdings, has attracted high-profile bidders, including Prada Group, Investcorp, and private equity firm Permira. Barclays, which is managing the process, expects final bids in February 2025. Bizzarri’s…