YG attracts investment from LVMH “Introducing South Korea with Music & Fashion”
[머니투데이 김건우 기자] YG Entertainment attracted an $80 million-investment (around KRW 82.7 billion) from L Capital Asia, the private-equity arm of LVMH (Moët Hennessy Louis Vuitton).
At 2 pm on Sept 13, YG held an agreement ceremony in Singapore’s Ritz-Carlton Hotel with L Capital Asia and announced their strategic investment plans.
Present at the event were YG’s Executive Producer YANG HYUN SUK and CEO YANG MIN SUK, along Ravi Tharkan, the head of L Capital Asia. Apart from the three, more than 80 related personnel attended the event as well.
L. Capital Asia is to invest KRW 61 billion in new preferred shares of YG and is in talks to buy another $20 million (around KRW 20.3 billion) in shares from YANG HYUN SUK.
The worlds’ largest luxury group maker LVMH’s private equity arm has been investing in renowned brands in China and India. Its working asset amounted to $10.5 billion this August. It is its first investment in South Korea.
CEO YANG commented, “YG produced many highly popular artists including BIGBANG, 2NE1 and PSY, and these artists each have solidified their brand image across the world,” and added, “Partnership with L Capital is the beginning of YG’s attempt at creating a new trend.”
Executive producer YANG added, “K-pop has become popular in all corners of the world, but I always thought there should be a fashion brand that represents South Korea. It is our aim to introduce Korea through fashion and music with LVMH Group.”
Ravi Tharkan, the head of L Capital also added, “YG is looking into new businesses of fashion and beauty through understanding and communicating with the young generation. L Capital will maximize YG’s potential to lead a new business.”
2014. 9. 13.
