Tod’s Group Sales Decline Amidst Pre-Delisting Phase and Sluggish Shoe Market
Tod’s Group reported a 6.7% decrease in Q1 sales to €252.3 million, driven by weaker shoe sales, a significant revenue drop in Greater China, and negative foreign exchange impacts. Despite these challenges, the Italian luxury fashion firm saw growth in its Hogan and Fay brands and remains optimistic about upcoming collections. This quarter’s report comes as Tod’s prepares for a transition to private ownership after a successful acquisition by Crown Bidco Srl, an affiliate of L Catterton, aiming for strategic long-term growth.
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L Catterton Acquires Majority Stake in Kiko Milano
L Catterton, a private equity firm supported by LVMH Moët Hennessy Louis Vuitton, has acquired a majority stake in the Italian beauty company Kiko Milano. Established in 1997 by Antonio and Stefano Percassi, Kiko Milano has grown to achieve significant global presence, with sales reaching €798 million in 2023, up 19% from the previous year. The deal is expected to further expand Kiko Milano's reach, particularly in the U.S., leveraging L Catterton’s extensive experience in scaling consumer brands. The Percassi family will maintain a minority stake, with Antonio Percassi continuing as president and Simone Dominici as CEO.
#LCatterton, #KikoMilano, #BeautyIndustry, #BusinessAcquisition, #GlobalExpansion, #ItalianBeauty, #Cosmetics, #InvestmentNews, #MarketGrowth, #StrategicPartnership
A Strategic Move in Beauty Investment: Unpacking L Catterton's Elevate Beauty Fund
L Catterton has unveiled a pivotal strategy within the beauty sector with the launch of Elevate Beauty, a dedicated fund targeting early-stage beauty brands. This move signifies a deeper, more strategic engagement with the evolving beauty landscape, aiming to nurture the next generation of disruptive and consumer-driven brands. Elevate Beauty represents a nuanced approach to investment, emphasizing not just financial support but strategic partnerships to guide emerging brands through critical growth stages. With a focus on innovation across skin care, color cosmetics, and beyond, Elevate Beauty is setting the stage for the future icons of beauty. This analysis delves into the strategic implications of L Catterton's approach and what it means for the beauty industry's future.
#BeautyIndustry #L Catterton #ElevateBeauty #InvestmentStrategy