L Catterton Provides Major Investment to Japan-based Etvos

Etvos Co., Ltd., a Japan-based natural cosmetics brand, has announced a significant investment from the Asia fund of private equity firm L Catterton, which has a strategic relationship with LVMH and Groupe Arnault.

L Catterton will partner with the existing management team to bolster the Etvos growth through strategic initiatives including expanding store-footprint and enhancing the customer experience.

This marks L Catterton’s second investment in Japan and its first investment in a Japanese cosmetics brand.

Founded in Osaka in 2007, Etvos stands to deliver gentle-to-the-skin products and offers a range of natural skin care, makeup and hair care goods.

Upon its founding, the company began introducing 100% made-in-Japan mineral-based makeup products––­that do not require a post-application cleansing––and ceramide-based skin care products, whose efficacy is backed by research.

Etvos directly operates several stores with in-store beauty advisers across four major Japanese cities, as well as offering its products through multi-branded stores and online channels.

With L Catterton's support, Etvos plans to accelerate its growth both in Japan and overseas, with a focus on the Asian market.

Following the completion of this investment, Norbert Leuret, president of LVMH Japan K.K., and Masatoshi Kuroda, previously special adviser to Chanel G.K., will join Etvos as non-executive directors to further enhance the board composition.

“This investment is a testament to the tremendous efforts and hard work of the Etvos team and we are pleased to partner with L Catterton as we accelerate our growth,” Etvos CEO Hifumi Ogawa said. “With global resources and a local focus, L Catterton has a deep understanding of the Asian consumer and a strong track record of partnering with leading cosmetics companies. Since the company's inception, our corporate philosophy has remained consistent and as we enter this next phase of growth it was important that we find a partner who is aligned with our mission. We look forward to leveraging L Catterton's unmatched sector expertise and wide network of industry contacts as we expand our retail footprint, enhance the customer experience, and further expand our high-quality product portfolio.”

“As consumers’ preferences continue to shift from conventional cosmetics to natural ingredients, we see a significant opportunity for Etvos to achieve sustainable long-term growth in the natural cosmetics market,” Taka Shimizu, managing director, L Catterton Asia, said. “Despite heightened uncertainty facing markets globally, we remain confident that the company, which has already established a unique positioning in the cosmetics market with a strong focus on product excellence, is poised for continued growth and expansion. Working closely with Hifumi and her impressive team, L Catterton is committed to providing world-class operational and strategic support to grow Etvos and solidify the company as a leader in its category, in Japan and beyond.”