Luxury products group Louis Vuitton Moet Hennessy (LVMH) has acquired a 70 per cent stake in UK cosmetics company Nude Skincare for an undisclosed amount.

Luxury products group Louis Vuitton Moet Hennessy (LVMH) has acquired a 70 per cent stake in UK cosmetics company Nude Skincare for an undisclosed amount.

Nude Skincare, founded in 2006 and part owned by U2 front-man Bono, produces luxury skincare goods without using synthetic additives often used in cosmetic products.. Nude shareholders will retain a 30 per cent equity stake in the company.

The deal adds to LVMH’s cosmetics acquisitions, which already include Christian Dior, Gurlain and Acqua di Parma.

It is the second cosmetics acquisition for LVMH in February, following that of botanical skincare company Ole Henriksen.

Antonio Belloni, group managing director of LVMH comments: ‘We believe Nude will be a global luxury skincare brand.’

Nude will continue to be based in London with founder and executive chairman Bryan Meehan and general manager Anna Ghee continuing in those roles.

Meehan comments: ‘Our shared commitment to growing Nude and continuing to invest together in the principles that are fundamental to the success of the brand are extremely exciting.

‘With the benefit of LVMH’s support the brand will no doubt be able to grow substantially and innovate at a much faster pace.’