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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

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Comments (4)
  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
    1. Nina Ulloa

      There are massively popular artists..not sure how it’s “pissing away millions”.


      Reply
      1. Nina Ulloa

        *These


        Reply
  2. Anonymous

    wow! YG is so amaaazing :)


    Reply

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