L Catterton Asia, a private equity firm backed by luxury consumer group LVMH, has invested an undisclosed amount in South Korea-based sunglasses brand Gentle Monster, Reuters has reported.
Although the details of L Catterton’s investment has not been confirmed, local media reports suggest it was sized at about ₩60bn ($53.3m), enough to make L Catterton the company’s second largest shareholder.
Gentle Monster produces sunglasses inspired by Korea’s K-Pop musical acts, and the brand became fashionable after actress Jeon Ji-hyun wore them in drama series My Love from the Star in 2014.
L Catterton was formed in January 2016 through the merger of the L Capital and L Real Estate investment units owned by LMVH and investment holding group affiliate Groupe Arnault with buyout firm Catterton.
– Image courtesy of Gentle Monster