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Tag: YG Entertainment

  • L Catterton Asia launches beachwear platform

    L Catterton Asia launches beachwear platform

    Australian swimwear brand Seafolly and Colombian beachwear brand Maaji are the first signings for a global lifestyle platform launched by L Catterton Asia.

    Based in Singapore, L Catterton Asia is an arm of private equity firm L Catterton, formed last year through a partnership between Catterton, LVMH and Groupe Arnault. It will be the controlling shareholder of the combined business, with the Maaji and Seafolly founders as minority shareholders.

    It is the first step in the aggregation of the fragmented swimwear/beachwear industry.

    Seafolly was founded in 1975 by Peter and Yvonne Halas, and has been led by Anthony Halas since he became CEO in 1998. He has built the business across international markets in Europe, North America and Asia. L Catterton Asia acquired a controlling interest in the brand in December 2014, and now it is sold in 41 countries (there are four stores in Singapore) as well as online.

    Maaji was founded by sisters Manuela and Amalia Sierra in 2002, and has a presence in more than 54 countries.

    “With this unparalleled combination of Maaji and Seafolly we look to grow our portfolio and create the largest independent house of beach lifestyle brands,” says L Catterton Asia chairman/managing partner Ravi Thakran. “This combination will drive many synergies, including geographic expansion, retail rollout and product sourcing.”

    L Catterton Asia’s goal is to preserve each brand’s DNA and heritage, while enabling the brands to enhance their global growth.

    Previously known as L Capital Asia, L Catterton Asia was launched in 2009 and manages more than US$1.6 billion across two private equity funds, and more than US$2 billion including co-investments. It has offices in Singapore and Mauritius, with further regional advisory presence in Hong Kong, Mumbai, Shanghai and Sydney. Its investments include Charles & Keith, Crystal Jade, Pepe Jeans Group and YG Entertainment, which promotes Korean singers and entertainers like Big Bang and Psy.

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  • Retail giants seek to cash in on hallyu

    Retail giants seek to cash in on hallyu

    The leading retailers in Korea are seeking to cash in on the global popularity of hallyu by sealing strategic tie-ups with entertainment companies to sell exclusive merchandise.

    Products bearing the images of popular K-pop artists and actors have largely been available only online. However, the success of a small store at Lotte Department Store’s Young Plaza in Myeong-dong, Seoul, appears to have caught the fancy of the retailer.

    The store dedicated to K-pop stars saw sales grow fivefold this year, half of which were accounted for by Chinese customers.

    This has prompted Lotte to join hands with YG Entertainment — home to some of the biggest K-pop acts such as Psy, Big Bang and 2NE1, as well as actors and actresses — to open a larger store on Aug. 12 where fans can now touch and try the goods before they pull out their credit cards.

    Big Bang.

    Lotte will offer officially endorsed celebrities goods available in over 100 categories, ranging from the mandatory clothing and stuffed toys to scented candles and cosmetics.

    Earlier in March, Korea’s top retail chain E-mart teamed up with SM Entertainment to introduce its private brand products bearing the name and face of its artists such as EXO Sonjjajang and Shiny Sparkling Water.

    Meanwhile, the two entertainment giants are also tapping into the restaurant business. SM is running tapas restaurant SMT Seoul in Cheongdam-dong, while YG opened YG Republique in Myeong-dong and Yeouido.

    By the end of this year, both will expand out of the country: SM will branch out into Tokyo and Los Angeles while YG will branch out in LA and Bangkok.

     

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  • LVMH affiliate invests $50m in Clio

    LVMH affiliate invests $50m in Clio

    L Capital, an affiliate of luxury brand group LVMH, will invest US$50 million in Korean cosmetics company Clio, which aims to go public by the end of this year.

    Clio will issue redeemable convertible preference shares to be taken over by the investment company, and an official agreement for this pre-IPO investment will be signed next week.

    After almost two decades of mediocre turnover since its establishment in 1997, Clio’s sales surged to 107 billion won ($93.07 million) last year with an operating profit of 22.5 billion won, boosted by an appearance on a popular TV show. Its total market value after IPO is expected to be more than 1 trillion won.

    L Capital ventured into the Korean corporate world two years ago by investing 60 billion won in YG Entertainment, becoming the second-largest shareholder of one of the top three entertainment companies in Korea.

    Its second choice of Clio reflects the growing demand in Asia, particularly China, for K-beauty products.

    Korean cosmetics exports to China alone last year were worth $1.09 billion, double the value of the previous year and coming in second to French cosmetics.

    US cosmetics company Estee Lauder last year became a major shareholder of Have and Be, the parent company of Dr Jart, while Goldman Sachs’ private equity fund took over Carver Korea, which owns AHC, for 520 billion won this year.