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Translated by
Nicola Mira
Published
Jul 27, 2018
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Kiko sells 33% stake to private equity firm Peninsula

Translated by
Nicola Mira
Published
Jul 27, 2018

Italian make-up brand Kiko has found new resources for its expansion. The Percassi family, owner of Kiko, has agreed, pending the approval of Spain’s anti-trust regulator, to sell a 33% stake in Kiko S.p.A. to private equity firm Peninsula for €80 million.


Kiko has joined forces with the Peninsula private equity firm - Kiko


“This operation is an important step for Kiko, 21 years after the brand was created. Together with our new partner Peninsula, we want to consolidate our brand’s growth,” said Antonio Percassi, President of Kiko. “The development of innovative digital tools, both on the commercial side of the business - by engaging our customers in-store and online - and in terms of operations management, play a key role in our industrial plan for the next three years,” added Percassi. 
 
The operation’s main goal is to help Kiko reach the objectives of its 2018-2020 industrial plan, with investments for approximately €90 million. About €30 million have been earmarked for technology upgrades, especially IT tools for CRM, ERP and the supply chain, and for e-commerce. The latter currently accounts for 3.5% of Kiko’s revenue, and the plan is to increase its share to 7% by 2020. Other significant investments will bolster Kiko’s international expansion, especially in high-growth regions like the Middle East, India and Asia.

Kiko was founded in 1997 by Antonio and Stefano Percassi and its revenue in 2017 was €610 million. It has a presence in 21 countries, with 7,500 employees and 950 monobrand stores. Its e-tail business cover 32 countries, the latest being China, where Kiko is active through a partnership with Tmall. Kiko belongs to the Percassi group, which was created in 1976 and operates a series of directly owned brands (Kiko Milano, Womo, Bullfrog, Caio Antica Pizza Romana, La Piadineria Casa Maioli and DMail), as well as Billionaire Italian Couture, a jointly owned fashion label. The group also runs a series of stores in partnership with brands like Gucci, Armani, Nike, Victoria’s Secret, Lego, Starbucks and Wagamama, and is active in the real estate business.
 
The Peninsula private equity firm, based in Luxembourg and London, was established two years ago and specialises in equity investment in southern Europe and Latin America, with a strong track record in consumer retail. One of its leading investors is the Qatari sovereign investment fund, owner of Harrods and, from 2010, of luxury labels like Valentino e Balmain.

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