Louis Vuitton Invests $80 Million in K-Pop Company YG Entertainment…

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Record label and talent agency YG Entertainment manages the careers of some of the biggest K-pop stars. YG’s roster includes fashion-conscious artists PSY, Big Bang, and 2NE1.  The company has a market value of $690 million.

LVMH (Louis Vuitton Moët Hennessy) is investing up to $80 million in YG Entertainment.  L. Capital Asia (a branch of LVMH) will invest 61 billion won ($59.6 million) in preferred YG shares.  LVMH is also negotiating the purchase of $20 million in shares from Yang Hyun-suk, YG’s founder and largest shareholder.

Reuters reports that the two companies are also discussing a strategic partnership.

In 2009, Louis Vuitton sponsored Big Bang member G-Dragon.

 

 

Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u

4 Responses

  1. Willis

    That’s one way to piss away millions – similar to the $250 million that LVMH invested in MP3.com back in the day.

    Reply

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