Michael Tegos · · 1 min readCosmetics startup Luxola acquired by Sephora parent company LVMH
Global luxury goods conglomerate LVMH, parent of – among others – beauty products giant Sephora, has acquired ecommerce startup Luxola, the company announced today.
The Southeast Asia skincare and cosmetics estore was founded in Singapore in 2011 by entrepreneur Alexis Horowitz-Burdick. Luxola is currently active in 11 markets and carries over 250 unique brands. “Sephora’s investment enables us to take this vision further. With greater market reach and brand depth we will offer an unparalleled customer experience,” Horowitz-Burdick, who is also the CEO of Luxola, said in a statement.
Prior to this, Luxola has raised over US$15 million in funding, from investors such as Gree Ventures. Details of this latest deal have not been disclosed yet.
“Investing in Luxola is a unique opportunity to penetrate the online beauty market and accelerate Sephora’s growth in Southeast Asia,” said Anne-Véronique Bruel, president of Sephora Asia, in a statement.
Tech in Asia has reached out to Luxola for more information and we will update this post accordingly.
Editor’s note: The official press release stated that Sephora invested in Luxola. Tech in Asia has confirmed with Luxola’s founder and CEO that this is true, but in addition LVMH has acquired the startup.
Editing by Steven Millward
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