L Catterton has entered a definitive agreement to acquire a majority stake in the Italian beauty brand Kiko Milano from the founders, the Percassi Family. The family will keep significant stake in the brand and Antonio Percassi will remain as President of Kiko. Financial terms were not disclosed.
 
Kiko was founded in 1997 in Bergamo, Italy by Antonio and Stephano Percassi. The brand has grown to one of the largest privately-owned color cosmetic brands in the world. In 2023, Kiko recorded net revenue of approximately $800 million and nearly 20% year-over-year growth.
 
Arabella Caporello, a Partner in L Catterton’s Europe Fund commented: 
“KIKO’s unrivaled scale, first-to-market advantage, and ability to provide unmatched product offerings at accessible prices uniquely positions the Company for global success. We have significant experience scaling leading brands in Europe, and we look forward to working alongside CEO Simone Dominici and his team to capture the Company’s incredible potential.”
 
Kiko Milano CEO, Simone Dominici said: 
“Innovative products’ quality, accessibility, personalized consultancy, and captivating packaging design stand as the brand’s distinctive elements. I am confident that this collaborative partnership with L Catterton will help us to bring KIKO to new heights. With their depth of experience investing in the beauty category across markets, they will be able to offer valuable insights to help us further scale our brand, by pursuing an omnichannel strategy and establishing new and relevant geographical footprints, such as the U.S., also aided by the support of John Demsey.”
 
L Catterton has globally invested in over 30 beauty brands including, Elemis, Hi!Papa, Oddity, Maria Milla, and Irene Forte Skincare, among others. 

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