Louis Vuitton invests $80m in K-Pop label
Louis Vuitton’s private equity arm, LVMH, is to invest up to $80 million in South Korea's home of K-Pop, YG Entertainment Inc.
The record label and talent agency represents some of K-Pop’s biggest names including PSY, Big Bang and 2NE1.
YG Entertainment’s market value closed at $690 million on Wednseday.
The investment from LVMH's private equity branch, L. Capital Asia, will include $60 million in 1.35 million convertible preferred shares.
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