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L Catterton Asia Makes Strategic Investment in Ci Flavors

December 29, 2021 BeautyMatter
December 29, 2021

L Catterton, the largest global consumer-focused private equity firm, announced its Asia fund has made a strategic investment in Ci Flavors, which owns Cosme Company, a leading multi-brand beauty and personal care company in Japan focused on haircare and skincare.

WHO: Ci Flavors is the holding company for Cosme Company, a leading multi-brand haircare and skincare company headquartered in Tokyo, Japan. Since its founding by its President Yusaku Horiuchi in 2011, Cosme Company has continually created and developed unique brands in keeping with its core value of "understanding customers' demands better than anyone else." Ci Flavors boasts a strong portfolio of 37 brands, particularly in the mid-end segment of the Japanese haircare market.

WHY: The firm will partner with Ci Flavors' management team to bolster growth through strategic initiatives such as enhancing new brand development and accelerating international expansion. L Catterton has significant experience investing globally in the beauty and personal care space. Current and past investments in the space include ETVOS, Elemis, bliss, Intercos, Marubi, Cover FX, Function of Beauty, Tula, Sociolla, and Merit.

IN THEIR OWN WORDS: Ci Flavors President Yusaku Horiuchi commented, "We are excited about the next stage of our growth and believe L Catterton is the right partner for the journey ahead. As the experts in consumer investing, the firm brings in-depth understanding of the global beauty and personal care market. It has a proven track record of creating value and we look forward to leveraging its distinctive sector expertise and extensive network of industry contacts as we further enhance our portfolio, enlarge our international footprint, and enrich customers' experiences."

“Ci Flavors has built a strong business, achieving a leading position in Japan and making inroads overseas," said L Catterton Asia Partner Taka Shimizu. "The mid-end segment of the country's haircare market has robust fundamentals and is expected to continue expanding, driven by consumers who are increasingly seeking innovative products in the space. Led by an experienced senior management team, the Company is poised to capture growth opportunities, and we are excited about its prospects."

L Catterton Asia Principal Ray Yamaguchi added, "We look forward to partnering with Ci Flavors and sharing our category insights and operating skills with the Company as it continues to strengthen its performance across sales channels and geographic markets. This investment reinforces Ci Flavors's position as it broadens its product suite, ramps up its global expansion efforts and thoughtfully develops more brands that consumers love."


  • L Catterton has made a strategic investment in Ci Flavors, which owns Cosme Company.
  • Coupled with its strategic introduction of new brands and sizeable social media following, the Ci Flavors pipeline of products positions it to further penetrate key channels. In addition, it has ventured abroad into 25 markets worldwide, focusing on China, where it is experiencing steady growth.
  • As part of the partnership between L Catterton and Ci Flavors, LVMH Moët Hennessy Louis Vuitton Japan K.K. President Norbert Leuret will assist the company as a Senior Advisor following the completion of the transaction.

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