MIAMI--(BUSINESS WIRE)--Leste Group (“Leste”), a global alternative investment manager, today announced the acquisition, through its private equity platform, of a significant stake in Prestige Cosmetics (“Prestige” or the “Company”), a leading distributor of luxury perfumes and cosmetics in Brazil with a growing presence in North America. Financial terms of the private transaction were not disclosed.
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.
“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 Leste Group. “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.”
“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 Cosmetics. “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.”
Leste Group, best known in the U.S. for its equity and credit investments in real estate, is an experienced global private equity investor, having completed seven deals over the past decade.
About Leste Group
Founded in 2014, Leste Group is a global independent alternative investment manager guided by core values of respect, creativity, and teamwork. The firm offers investors a diverse range of strategies across real estate, credit, private equity, and special situations. Leste Group's investment teams leverage institutional-grade processes, a nimble, entrepreneurial approach, capital markets expertise, and exclusive networks to source unique opportunities and drive risk-adjusted returns. For more information, please visit leste.com.
About Prestige Cosmetics
Prestige Cosmetics specializes in the distribution of perfumes and cosmetics from LVMH, Estee Lauder, Interparfums, Richemont, Shiseido, Clarins, La Prairie, and other renowned international brands. 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. For more information, please visit www.prestigecosmeticos.com.br.
