SINGAPORE — L Capital Asia, the private equity fund backed by LVMH Moët Hennessy Louis Vuitton, has acquired a minority stake in China’s Marubi Holdings Group, which produces the Marubi line of cosmetics. This marks the fund’s first foray into the beauty industry.
Financial details were not disclosed. According to Marubi, the Chinese company said it would work with L Capital Asia, now its second-largest shareholder, on areas such as marketing, packaging and research and development.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)