LVMH's Sephora buys cosmetics startup Luxola
Eight-figure sum believed to be one of Singapore's biggest Internet startup exits in 2015
Singapore
COSMETICS e-commerce site Luxola has been snagged by French luxury group LVMH via the latter's cosmetic subsidiary Sephora for an "eight-figure" sum, BT has learnt, in what is believed to be one of Singapore's biggest Internet startup exits this year.
Luxola founder Alexis Horowitz-Burdick told BT on Thursday: "Luxola and Sephora are a good fit. Luxola is a leading beauty e-tailer, with a great passion for beauty and an unparalleled knowledge of the online market. Sephora is a leading beauty retailer that has gained huge market share with a wide brand assortment and great beauty knowledge."
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