Leste Group has acquired a significant stake in Prestige Cosméticos, a leading distributor of luxury perfumes and cosmetics in Brazil with a growing presence in North America. Financial terms of the transaction were not disclosed.
Founded in 2014 and led by Evelyse Britto, along with partners Shinji Motoyama and Roberto Thiry, Prestige has grown to be a leading distributor of fragrances and cosmetic products internationally. Prestige is the exclusive distributor in Brazil for a number of luxury perfume, fragrance, and skincare brands including Clinique, Dolce & Gabbana, Salvatore Ferragamo, Bulgari, Tom Ford, Acqua di Parma, and Bond No. 9. The Company also has significant operations outside Brazil, and Leste will be focused on working with management to accelerate its international expansion, in particular in North America.
“Our partnership with Leste Group will enable us to increase Prestige’s global distribution network, strengthen our retail footprint and e-commerce channel, form new brand partnerships, and explore additional strategies to further enhance our business,” said Evelyse Britto, Founder of Prestige Cosméticos. “Leste shares our vision for the future, and we look forward to capitalizing on their financial expertise and industry knowledge to identify new opportunities and markets moving forward.”
“North America is the largest beauty market in the world, and we’re confident our private equity investment in Prestige will help bolster its expansion in the region as the Company prepares for its next stage of growth,” said Emmanuel Hermann, CEO & Founder of the investment firm. “The acquisition further demonstrates our extensive knowledge of the private markets, and we look forward to utilizing this experience to continue growing our private equity portfolio.”
