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On Monday, investment firm L Catterton announced it had taken a large minority stake in high perfumery brand Ex Nihilo.
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The niche brand, founded by former fashion buyer Yasmin Sewell, has closed its second round of funding with Manzanita Capital and Estée Lauder’s corporate venture capital arm also participating.
The evocative masstige fragrance brand, relaunched by influencer Chriselle Lim and Ben Bennett’s The Center, will join the private equity firm’s portfolio, The Business of Beauty can exclusively confirm.
The investment is the company’s first in a Latin American brand, and signals its intent to deepen its global diversification and presence in fragrance.
Brennan Kilbane is News and Features Editor at The Business of Beauty. He is based in London, and supports BoF’s coverage of the multifaceted cosmetics industry, from fine fragrance to wellness trends.
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