L’Occitane has announced the approval of an investment into the business of LimeLight by Alcone.
The investment will allow the France-based L’Occitane a 40% interest in LimeLight, a makeup and skin care brand based in the U.S. The agreement also forms a joint venture in which L’Occitane will hold a 60% controlling stake.
Co-founder and Co-CEOs of LimeLight, Michele M. Gay and Madison Mallardi, will continue to control and lead the company while contributing to the set-up and development of the joint venture.
L’Occitane’s hope is to leverage on its global exposure to expand the business model outside of the U.S.