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."