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Consumer/Retail

A Bathing Ape

Asia

Founded in 1993, BAPE is a premium Japanese streetwear fashion brand with c.150 points of sale across 23 countries.

One of the three original iconic streetwear brands globally, BAPE is well-positioned in the rapidly growing streetwear category, serving the most sought after Gen-Z and Millennials customers.

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Case Studies

Find out more about how we’ve partnered with portfolio companies to create sustainable value.
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Business Services

Macromill Group

Asia

Headquartered in Japan, Macromill Group is the leading player in the growing Japanese online marketing research and insights sector.

Macromill’s survey and response analysis services provide innovative data and insights that help its clients to make more informed decisions. Since 2000, Macromill has built an active database of 2.6m consumer panel participants which enables the company to deliver end-to-end survey solutions that provide a faster, more cost-effective and precise service than conventional methods.

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Consumer/Retail

Mandom Corporation

Asia

Mandom Corporation is a Japan-based consumer goods company specializing in cosmetics and personal care products. Founded in 1927, the company initially focused on fragrances before successfully expanding into hair care and grooming products such as "Mandom" and adopting its current name, Mandom Corporation, in 1971.

Mandom is best known for its strong position in the men’s grooming market, particularly through flagship brands such as GATSBY and LUCIDO, as well as women’s brands including LUCIDO-L, Bifesta, and PIXY. Its product portfolio covers hair styling, skin care, fragrances, deodorants, and cosmetics, serving both male and female consumers.

Geographically, the company has expanded beyond Japan to focus on Asian markets since the 1960s, with a significant presence in countries such as Indonesia, Malaysia, and other Southeast Asian nations, supported by local manufacturing and distribution networks.

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Consumer/Retail

Riraku

Asia

Founded in 2010, Riraku is the largest budget relaxation service chain operator in Japan.

Since inception, the company has rapidly expanded its store base, and currently operates 620 outlets nationwide and serves 5.3 million customers annually.

Riraku is the pioneer in the budget relaxation service sector where the pricing is half of the industry standard (which usually costs JPY 6,000 per hour). Riraku is able to reduce its prices thanks to its effective therapist deployment model, efficient cost management and unique store opening method.

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Healthcare

Sogo Medical Group

Asia

Sogo Medical Group is one of the leading dispensing pharmacy chains and diversified provider of hospital operation outsourcing business in Japan.

Sogo comprises two divisions: The dispensing pharmacy division which sells prescription drugs to patients through its well-established network of over 790 nationwide pharmacies, and the hospital service business which provides such as hospital/clinic management consulting, leasing (medical equipment and TV rental), temporary staffing, in-hospital kiosks/ restaurants and linen supply and covers c.45% of hospitals in Japan.

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Consumer/Retail

TRY Group

Asia

Founded in 1987, TRY is a pioneer of home tutoring services and has expanded to become one of the leading players in the Japanese education industry.

The company offers a range of educational services focusing on personalised tutoring services both at home and classrooms, with a nationwide network of over 200,000+ registered tutors across 1,100 locations serving more than 1.2m students over 30 years.

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The selected companies are presented solely to illustrate the types of investments that may be made by CVC for one or more strategies, and are not representative of all transactions of any given strategy. References to a particular investment should not be considered a recommendation by CVC. The investments presented were made under market, economic and supply-demand conditions which may not be replicated, and future investments may have characteristics that differ from the case studies presented here. Consequently, there can be no assurance that CVC funds will be able to invest in similar opportunities in the future. It should not be assumed that the case studies presented here or that any investments made in the future were or will be profitable.