Sephora’s Parent Company LVMH Acquires eCommerce Startup Luxola

Global luxury goods conglomerate LVMH, which runs cosmetic company Sephora has acquired eCommerce startup Luxola, for an undisclosed amount.

Luxola the Southeast Asia skincare and cosmetics eStore was founded in Singapore in 2011 by entrepreneur Alexis Horowitz-Burdick. Luxola is currently active in 11 markets and carries over 250 unique brands.

Commenting on the acquisition, Horowitz Burdick, who is also the CEO of Luxola, said in a statement, “Sephora’s investment enables us to take this vision further. With greater market reach and brand depth we will offer an unparalleled customer experience.”

Prior to the acquisition, Luxola had raised $15 million in funding, from investors such as Gree Ventures, reports TechinAsia.

Anne-Véronique Bruel, president of Sephora Asia, in a statement said, “Investing in Luxola is a unique opportunity to penetrate the online beauty market and accelerate Sephora’s growth in Southeast Asia.”

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