Asia K-pop Music News: Louis Vuitton To Invest $80 Million in K-pop's YG Entertainment

2NE1

Louis Vuitton is getting into the K-Pop business. The world's largest luxury brand's private equity arm, LVMH, announced Wednesday it will invest up to $80 million in South Korea's YG Entertainment Inc., the record label and talent agency behind some of the genre's largest acts. Among others, YG Entertainment represents K-pop hit-makers including Psy and 2NE1.

LVMH's private equity branch L. Capital Asia will invest 61 billion won ($60 million) in 1.35 million convertible preferred shares, priced at KRW 44,900. And, according to a YG report, the entities are in negotiations to acquire another $20 million of shares from YG founder and largest shareholder, former K-pop star Yang Hyun-suk. If that deal goes through, it will be YG's second-largest shareholder.

Culled from Billboard Magazine