Luxury expert extends interest in brands with potential
Following its very recent acquisition of Ole Henriksen, LVMH has announced the acquisition of a 70% stake in the luxury, natural performance Nude Skincare. Nude’s current shareholders will retain a 30% equity ownership in Nude Brands Ltd.
Nude Skincare was founded in 2006 by Ali Hewson and Bryan Meehan who say: “We are delighted with our new partnership with LVMH. Our shared commitment to growing Nude Skincare and continuing to invest together in the principles that are fundamental to the success of the brand are extremely exciting. Nude skincare has made great strides since its start, and with the benefit of LVMH’s support, the brand will no doubt be able to grow substantially and innovate at a much faster pace, as it has successfully done with other brands in the perfumes and cosmetics sector.”
Toni Belloni, group md of LVMH adds: “Our Group is proud to contribute to the development of NUDE’s activities and is committed to growing the brand true to its core beliefs and values. We believe Nude will be a global luxury skin care brand and are excited to work with Ali, Bryan and the team that they have built around them.”
Nude Skincare will continue to be based in London and executive chairman Meehan and general manager, Anna Ghee will continue in those roles. Hugues Dusseaux, president of New Ventures LVMH Perfumes & Cosmetics, will work with Nude on behalf of LVMH as he does for Benefit and Make Up For Ever.
Terms of the transaction have not been disclosed.