LVMH to invest $50m in K-beauty firm

L Capital, an affiliate of the world’s largest luxury brand group LVMH, will invest $50 million in CLIO, a Korean cosmetics company that specializes in makeup.The K-beauty company aims to go public by the end of this year and will issue redeemable convertible preference shares which the investment company will take over. An official agreement for this pre-IPO investment will be signed next week, according to media ...