LVMH subsidiary Sephora has purchased cosmetics e-commerce company Luxola, for a reported $37m, providing exits to Gree and Transcosmos.
Digital media company Gree and outsoucing firm Transcosmos have exited Singapore-based online cosmetics retailer Luxola after it was acquired by cosmetics retail chain Sephora, Tech in Asia has reported.
The amount paid by Sephora, a subsidiary of luxury goods conglomerate LVMH, was undisclosed but sources have informed Tech in Asia it may have spent up to S$50m ($37m) on the deal and concurrently also invested an undisclosed amount of funding in Luxola.
Founded in 2011, Luxola operates a skincare and…
