SINGAPORE- Fashion and music shared the stage yesterday in a partnership deal that looks as good as it sounds.
Singapore-headquartered L Capital Asia, the private equity arm of French luxury group LVMH Moet Hennessy Louis Vuitton, formalised its investment in South Korean talent agency YG Entertainment in a signing ceremony at the Ritz-Carlton hotel here.
Both sides said they are in talks to collaborate in areas that could include fashion, cosmetics and Korean-themed restaurants.
YG artistes such as Gangnam Style singer Psy, boyband Big Bang and all-female group 2NE1 could also be ambassadors for LVMH's stable of brands, which include Louis Vuitton, Fendi and Marc Jacobs.
"Many of our brands are already very excited. We certainly can see some of the artistes collaborating with the fashion brands, being at the fashion week (events)," said L Capital Asia chairman Ravi Thakran.
With the partnership, both parties can diversify into new markets.
This is L Capital Asia's first South Korean investment, while YG is branching out beyond music and entertainment into lifestyle.
"The areas of business that we are diversifying into are closely related to our music, which is the core business," said YG Entertainment chief executive Yang Min Suk, who spoke through an interpreter.