The beauty industry benefits from social change. The aging population and the young, cosmetics-obsessed Generation Alpha are boosting their business. This attracts the struggling luxury industry.
Monsieur Arnault once again took action in his favorite hunting ground, Italy. The richest man in the world, whose private fortune Forbes magazine estimates at 213.8 billion euros, snapped up the cosmetics chain Kiko Milano with his French luxury goods empire LVMH. The investment company L Catterton, controlled by Bernard Arnault, took a 70 percent stake from the brothers Antonio and Stefano Percassi in the beauty company they founded in 1997. The purchase price is estimated at one billion euros. The king of luxury is right on trend with this deal: exclusive fashion labels are currently jumping into the cosmetics business.