Today (March 12), private equity investment fund Advent International announced the appointment of Maggie Chan as Operating Partner. It is reported that Maggie Chan will be based in Shanghai and will support Advent’s expansion in the retail, consumer goods, and leisure industries.
During her tenure as General Manager of Sephora Greater China under LVMH Group, Maggie Chan successfully introduced and incubated emerging high-end Chinese brands such as Herborist, Inoherb, XOVE, and MAO GEPING. She has extensive experience and unique insights in brand building and market expansion. Prior to this, she also served as General Manager for China at Blueair, an electronic air purifier and filter brand under Unilever.
Chen Yu’en, Managing Director of Advent International, said, “Maggie Chan has achieved impressive results in managing the transformation and revolution of the consumer and retail industry. We are looking forward to working with her, especially in the lifestyle sectors such as beauty and dining.”
In addition, Maggie Chan will also join the board of directors of Wagas. Wagas is a leading lifestyle catering group with over 350 stores in China, and it is also one of Advent’s investment companies.
In the announcement, Maggie Chan stated, “Advent International not only has strategic investment concepts and global influence but also focuses on consumers and the retail sector, especially on brands that are rapidly growing in the beauty and cosmetics industry. I believe that the new generation of Chinese local brands can resonate with tech-savvy Chinese consumers and engage with global audiences, with the potential to become true industry leaders. With the support of Advent, I look forward to collaborating with these competitive local brands and building a platform for their development.”
According to publicly available information, Advent International was established in 1984 and is one of the largest and most experienced global private equity investment funds. In 2021, Advent International acquired three high-end cosmetic brands, bareMinerals, BUXOM, and Laura Mercier, from Shiseido. In addition, the fund has invested in luxury perfume brand Parfums de Marly and US tech haircare brand Olaplex, among others.
