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Family Office for Chanel Billionaires Cashes In on Olaplex IPO

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Olaplex CEO on IPO, Competition, Supply Chain

The family office for one of the world’s biggest fortunes has pocketed a multimillion-dollar windfall from the initial public offering of hair-products maker Olaplex Holdings Inc.

Mousse Partners, the investment firm for the family behind Chanel, sold shares worth $95.2 million after Olaplex increased its offering and priced the stock Wednesday above a marketed range at $21 each, raising $1.6 billion, according to data compiled by Bloomberg. The New York-based firm still owns a stake in Olaplex worth about $800 million, based on the offering price. That will make it one of Mousse’s biggest public holdings when Olaplex begins trading Thursday in the U.S. 
 
A Mousse representative didn’t immediately respond to a request for comment.