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LVMH acquires Singapore VC-backed beauty e-commerce start-up

  • Andrew Woodman
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Luxury goods conglomerate LVMH has acquired Luxola, a VC-backed beauty e-commerce start-up based in Singapore, for an undisclosed sum.

Luxola raised $10 million in a Series B round led by Transcosmos and Gree Ventures - which led an undisclosed Series A round - in March last year. Other investors include LVMH beauty products subsidiary Sephora, WaveMaker Labs, and Singapore's National Research Foundation. The company is understood to have raised $15 million in total to date.

Set up in 2011 by Alexis Horowitz-Burdick, Luxola claims to be the largest online beauty store in Southeast Asia by products selection, with 250 brands covering makeup, skincare, nails, and body products. The business ships to 11 countries and also operates Lxedit, an online content site on beauty advice.

"Investing in Luxola is a unique opportunity to penetrate the online beauty market and accelerate Sephora's growth in Southeast Asia," Anne-Véronique Bruel, president of Sephora Asia, said in a statement.

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