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Kiko may take new investor for MENA growth

Business Opportunity JIACC

Italian make-up group Kiko is in talks to bring in a minority investor to help fund growth in India, the Middle East and Asia

Source: Zawya – Italian make-up group Kiko is in talks to bring in a minority investor to help fund growth in India, the Middle East and Asia and lift profitability, Chief Executive Cristina Scocchia said. Scocchia built her reputation as the Italy head of French cosmetics giant L’Oreal and arrived at Kiko last July to relaunch the family-owned group that was founded in 1997. The company expanded abroad rapidly thanks to cheap but trendy products. It is now grappling with falling profit margins due to tougher competition and the e-commerce challenge facing all bricks-and-mortars retailers. “We were pioneers, now we are no longer the only player in this market segment. Competition is stronger so we need to develop new strategies to return to profitable growth”

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