Core Insights - L Catterton has entered a strategic partnership with Mao Geping to support the latter's international expansion in high-end retail channels [1] - An equity investment fund will be established to focus on acquisitions and strategic investments in the global high-end beauty sector [2] - Mao Geping's revenue increased by 31.3% to 2.58 billion renminbi, with net profit rising by 36.1% to 670.4 million renminbi for the first half of 2025 [3] Company Developments - Mao Geping's brand includes over 400 stock keeping units across color cosmetics, skin care, and fragrances [3] - Key products such as the Luxury Caviar Cushion and Luminous Light Veiling Pressed Powder each generated over 200 million renminbi in sales [4] - Founders Mao and Wang hold a combined 45% stake in the company [4] Shareholder Actions - Mao, Wang, and four other controlling shareholders plan to reduce their holdings by up to 3.5%, approximately 1.5 billion Hong Kong dollars, due to personal financial needs [5] - Proceeds from the share reduction will be allocated for supply chain investments and personal living standards [5] Previous Investments - L Catterton has previously invested in other beauty brands in China, including Hi!Papa and Blankme [6]