Make-up entrepreneur Lottie Tomlinson at a Kiko Milano shop opening in Covent Garden, London
An Italian-headquartered make-up group plans to open a new outlet on Dublin’s Grafton Street, the capital’s main shopping thoroughfare, as the brand looks to expand further in the Irish market.
Make-up brand Kiko Milano has submitted a planning application to change the use of the store on Grafton Street into a retail outlet focused on cosmetics and beauty products.
The store represents Kiko’s latest effort to expand into the capital.
As reported by the Sunday Independent, Kiko Milano submitted plans to open a store on Dublin’s Henry Steet in March.
The proposed store, located in a unit opposite the Ilac Centre between lingerie retailer Ann Summers and jewellers H Samuel, received planning permission in June and its final grant earlier this month.
The company that submitted the planning applications for the two stores, Kiko Cosmetics Ireland Limited, was formed in December.
The Irish entity’s directors include Tobias Karlsson, Kiko’s global real estate director, Giuseppe Cassavago, Kiko’s global accounting and administration director, and Paul Devin, Kiko’s managing director for the UK and Ireland.
According to its website, Kiko Milano already operates one store on the island of Ireland, on Belfast’s William Street South.
In April, a report from Reuters said that LVMH-backed buyout firm L Catterton agreed to buy a majority stake in Kiko Milano. The report cited a source close to the matter who said the deal valued the family-owned Italian make-up group at around €1.4bn.
Kiko’s revenue rose by 20pc last year to around €800m. It runs more than 1,100 shops in 66 countries, as well as an e-commerce platform.
Italian retail group Percassi retained a significant stake in the Kiko Milano brand.
Kiko Milano was founded in Bergamo in 1997 by Antonio Percassi and his son Stefano Percassi.
Kiko Milano declined to comment on its plans for Dublin .