L Catterton acquires majority stake in KIKO Milano

Kiko Milano products

Investment firm L Catterton has acquired a majority stake in Italian beauty brand and retailer KIKO Milano from the founding Percassi family, who will retain a significant stake in the company. Terms of the transaction were not disclosed.

KIKO, which was founded by Antonio and Stefano Percassi in 1997, has over 1,100 stores in 66 countries and an e-commerce platform. In 2023, KIKO reported net revenue of around €800m and almost 20% year-over-year growth. The company is known for its affordable make-up.

Antonio Percassi will continue as President of the company. He said the deal with L Catterton will accelerate KIKO’s global expansion, especially in the US. L Catterton’s Senior Advisor and former Estée Lauder Companies executive John Demsey will be involved in the company’s development.