Advent International appoints Consumer and Retail Executive Maggie Chan as Operating Partner

Shanghai, March 11, 2024 – Advent International (“Advent”), one of the world’s largest and most experienced private equity investors, today announced the appointment of Maggie Chan as Operating Partner. Based in Shanghai, Chan will support the buildout of Advent’s retail, consumer and leisure practice and work with the firm’s investment teams and the management teams of its portfolio companies in Greater China and globally.

Maggie Chan has extensive experience in managing transformational change and building customer development strategies in the consumer and retail industries both in China and internationally, having previously been Managing Director at Sephora Greater China, which is part of the LVMH group, and General Manager at Blueair China, a Unilever company that provides electronic air purifiers and filters.

During her five-year leadership at Sephora, Chan established an extensive, strategic retail network that helped the company become China’s largest prestigious multi-brand beauty retail chain. She also introduced and incubated new premium Chinese brands, including Herborist, Inoherb, XOVE and Maogeping, to incorporate a strong local element into Sephora’s diversified product offerings. Many of these names launched high-end product lines sold exclusively through Sephora.

David Chen, Managing Director at Advent, commented, “Maggie has an impressive track record in managing transformational change in the consumer and retail sectors. She has a deep understanding of how to develop and grow a company and key insights into consumer behavior trends, which will help us build on our existing partnerships with innovative businesses in the retail and consumer industries. We are excited to work with her, especially across the lifestyle sector in beauty and F&B.”

Chan has also joined the board of Wagas, a leading lifestyle F&B group, which has over 350 stores across China and is one of Advent’s portfolio investments. She will leverage her consumer insights to help advise on marketing and branding strategies for the restaurant group and to bring Wagas’ “Eat Well, Live Well” concept to new cities across China.

Andrew Li, Managing Director, Head of Greater China at Advent, said, “We’re pleased to welcome Maggie as an advisor to Advent as we continue to strengthen the depth and breadth of our Operating Partner program. We look forward to her future contributions to the firm and believe she will bring significant value add to our growing portfolio of leading consumer names and their management teams.”

Maggie Chan said, “I am excited to work with Advent due to its strategic investment approach, global reach and focus on the consumer and retail space, particularly fast-growing brands in the beauty and cosmetics sector. I believe there is a new generation of local Chinese brands that resonate not only with the country’s sophisticated and digitally savvy consumers but which also speak to global audiences and have the potential to become true industry leaders. With Advent’s support, I look forward to working with these companies and helping to build a platform of local and highly competitive brands.”

Prior to serving as Managing Director at Sephora Greater China, Chan held a number of roles at Unilever where she was instrumental in developing the company’s customer development strategy and retail solution partnerships and deploying its Requirements Traceability Matrix as well as growing global customer accounts for Walmart International. Chan earned a Bachelor of Science from The Chinese University of Hong Kong.

Advent has long been an investor in the retail, consumer and leisure sector. Several of its invested companies are international brands that have recently entered the China market or have established a strong presence in the region, including Wagas Group, one of the largest independent western fast casual restaurant groups in China; Zimmerman, an internationally recognized luxury fashion brand; Parfum de Marly and INITIO, luxury fragrance brands; and lululemon, the premier specialty retailer of athletic and yoga apparel.

Advent’s other notable investments in this sector include Skala, GHL Hoteles, Eureka Forbes, Orveon, Merama, Dufry, Grupo CRM, DFM Foods and Olaplex.