- Companies
- Kiko
Kiko Acquisition, Valuation, Funding & Investors
Kiko was acquired by L Catterton for $1.5B in April 2024, a 1.8x multiple on $864M of revenue.
Kiko acquisition price
$1.5B
Acquired by L Catterton · Apr 2024
Kiko revenue at acquisition
$864M
Last twelve months · Apr 2024
Kiko revenue multiple at acquisition
1.8x
EV/Revenue · Apr 2024
Cumulative funding Kiko raised
$94M
across 1 funding round
About Kiko
Kiko Milano is a Rome-headquartered cosmetics manufacturer founded in 1997 specializing in affordable makeup and skincare for women. Its product lines cover face primers, foundations, eyeshadows, mascaras, lipsticks, and nail polishes, sold through over 1,000 standalone stores and department chains across Europe, Middle East, and Asia. Kiko Milano also offers hand creams, brushes, and accessories emphasizing vibrant colors and long-wear formulas tested for skin compatibility.
Founded
1997
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Product sales
Revenue
$864M (Apr 2024)
Valuation
$284M (Jul 2018)
Sectors
Kiko Acquisition
Kiko was acquired by L Catterton for $1.5B on 26 April 2024.
The acquisition price implies a 1.8x revenue multiple on $864M of revenue.
Before the acquisition Kiko had raised $94M across 1 funding round.
KIKO Milano, an Italian cosmetics and skincare brand founded in 1997 by the Percassi family and headquartered in Bergamo, offers high-quality formulations at accessible prices through an experiential retail network of over 1,100 stores across 66 countries in Europe, Asia, and the Middle East. The company reported net revenue of approximately €800 million in 2023, reflecting nearly 20% year-over-year growth, and operates as part of the diversified Percassi Group, which manages franchised retail for brands like Nike, Gucci, and Starbucks, alongside its own labels and real estate developments. L Catterton, a consumer-focused investment firm managing $34 billion in equity capital with over 250 investments in iconic consumer brands including recent beauty portfolio additions like Merit, Oddity, Trautec, Eighth Day, and Maria Nila, acquired a majority stake in KIKO Milano from the Percassi family in April 2024. The Percassi family retains a significant minority stake, with Antonio Percassi continuing as Company President and CEO Simone Dominici leading operations. Deal terms were not disclosed. The partnership aims to accelerate KIKO's global expansion through an omnichannel strategy, targeting new markets like the U.S., leveraging L Catterton's expertise in scaling European beauty brands, extensive cosmetics sector experience, global commercial network, and support from Senior Advisor John Demsey. Strategic rationale emphasizes KIKO's scale, first-to-market advantages, innovative high-quality products, personalized consultancy, captivating packaging, and accessible pricing, positioning it for international success amid strong 2023 performance. L Catterton partners Arabella Caporello and Nik Thukral highlighted the brand's global appeal and potential, while Percassi and Dominici expressed confidence in reaching new heights through the collaboration.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 26 Apr 2024 | PE buyout | $1.5B | 1.8x |
Kiko Valuation
Kiko is currently valued at $284M, based on its undisclosed-stage round in July 2018.
The $94M round included Peninsula Capital.
Kiko valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2018 | Undisclosed stage | $284M |
Kiko Funding History
Kiko has raised a total of $94M across 1 funding round.
Kiko funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2018 | Undisclosed stage | Peninsula Capital | $94M | $284M | Kiko Milano is a family-owned Italian cosmetics company founded in 1997 by the Percassi brothers, offering affordable, quality make-up and skincare products through over 950 stores in 21 countries and a strong e-commerce presence. In July 2018, amid a complex restructuring during financial strain, UK-based private equity firm Peninsula Capital acquired a minority stake (reported as approximately 33% for €80MM or up to 38-40%) to support international expansion, IT modernization, supply chain improvements, and growth in markets like Asia, India, and the Middle East as part of Kiko's 2018-2020 business plan. The investment enabled Kiko to pursue its growth objectives, with chairman Antonio Percassi noting it as a key step to consolidate the brand's position in the cosmetics industry. Peninsula's main backers included Gulf institutions like the Qatar Investment Authority. Later reports from 2022, when Peninsula exited by selling its stake back to the Percassi family, indicated Kiko generated over €750 million in sales (turnover) with a profit margin exceeding 10% on net sales, present in over 50 countries. The transaction marked Peninsula's entry into Kiko during a period of financial challenges, with the Percassi family regaining full control in 2022 after Peninsula's exit, potentially positioning the company for future IPO or industrial interest. |
Who has invested in Kiko?
1 investor has backed Kiko across its funding rounds, including Peninsula Capital.
Kiko Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Kiko investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKiko Competitors
Kiko competitors include listed companies like Amorepacific Group, Honasa Consumer and Harbin Fuerjia Technology, and private ones like Eight Sleep, Lush Fresh Handmade Cosmetics and Grupo Cimed.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.5B | - | ||
| Publicly listed | $3.4B | $493M | $1.5B | - | ||
| Publicly listed | $249M | $33M | $1.6B | 5.6x | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $282M | $91M | $1.6B | 3.7x | ||
| Private | - | - | $1.4B | - |
Kiko Public Comps
Kiko is no longer listed, but its public comps include Amorepacific Group, Honasa Consumer, Harbin Fuerjia Technology, Faes Farma, Intercos, Jamieson Wellness, Emami, Edgewell, Zydus Wellness and Qingdao Baheal Medical.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.4B | $493M | 0.9x | - | 6.4x | - | |||
| $249M | $33M | 6.1x | 5.6x | 46.5x | 50.4x | |||
| $282M | $91M | 4.3x | 3.7x | 13.4x | 12.8x | |||
| $703M | $136M | 2.8x | 2.3x | 14.3x | 11.4x | |||
| $1.2B | $159M | 1.2x | 1.2x | 9.4x | 8.0x | |||
| $589M | $95M | 2.9x | 2.6x | 17.8x | 13.5x | |||
| $391M | $105M | 4.2x | 3.9x | 15.6x | 15.4x | |||
| $2.2B | $186M | 1.0x | 1.1x | 11.5x | 8.5x | |||
This data is available for Pro users. Sign up to see all Kiko competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kiko
| When was Kiko founded? | Kiko was founded in 1997. |
| Where is Kiko headquartered? | Kiko is headquartered in Gurgaon, India. |
| Is Kiko publicly listed? | No, Kiko was acquired by L Catterton in April 2024. |
| Who acquired Kiko? | Kiko was acquired by L Catterton in April 2024. |
| How much was Kiko acquired for? | Kiko was acquired for $1.5B in April 2024, a 1.8x revenue multiple. |
| What is Kiko's valuation? | Kiko was last valued at $284M in its undisclosed-stage round in July 2018. |
| How much funding has Kiko raised? | Kiko has raised $94M across 1 funding round. |
| What was Kiko's last funding round? | Kiko's last funding round was a $94M undisclosed-stage round in July 2018. |
| Who are Kiko's investors? | Kiko's investors include Peninsula Capital. |
| Which companies are comparable to Kiko? | Companies comparable to Kiko include Eight Sleep, Amorepacific Group, Honasa Consumer, Lush Fresh Handmade Cosmetics, Harbin Fuerjia Technology and Grupo Cimed. |
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