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The Korea Herald

Retail & Consumer

December 17, 2019
Amorepacific partners with US cosmetics brand Milk Makeup

Korean beauty giant Amorepacific announced on Dec. 17 that it has signed a strategic partnership deal with US-based cosmetics company Milk Makeup. Established in 2015, Milk Makeup is known for its “clean-beauty” products, which are cruelty-free and vegan. The products are currently sold at US-ba...
December 12, 2019
Japan threatens to overtake S. Korea in China’s cosmetics market

Japan is threatening to overtake South Korea’s No. 1 status in China’s imported cosmetics market this year, industry data showed Dec. 12, mainly on the back of the growing popularity of low- to mid-priced products. Japanese companies accounted for 25.2 percent of China’s imported cosmetic...
December 07, 2019
MBX to launch new vegan skincare brand with Sephora

Korean cosmetics startup MBX, which recently switched the company’s name and branding from Memebox, announced on Dec. 6 that it would launch a new skincare brand with US-based multi-brand cosmetics store operator Sephora. “We were able to stay tight with Sephora as we understand the demands of t...
December 01, 2019
China imports $100m worth of South Korean instant noodles

China’s import value of South Korean instant noodles jumped fivefold last year compared to 2014, industry data showed on Dec. 1. According to the Korea Trade-Investment Promotion Agency, China imported $100 million (118 billion won) worth of South Korean instant noodles last year, up from $15.1 m...
November 28, 2019
Foreign visitors to local duty-free stores top 1.8m in Oct.

The number of foreigners visiting local duty-free shops surpassed 1.8 million last month, hitting the highest monthly mark since late 2016, industry data showed Nov. 28. Statistics provided by the Korean Duty Free Association said more than 1.8 million foreigners visited duty-free stores in the...
November 21, 2019
Unison Capital invests W35b in online shopping mall operator Sappun

Private equity firm Unison Capital announced on Nov. 21 that it will buy a 60 percent stake in local online shoe shopping mall operator Sappun for 35 billion won ($29.7 million). Sappun’s corporate value is estimated to be around 60 billion won. The two companies will sign a stock purchase agree...
November 20, 2019
LF opens new Hazzys outlet in Ho Chi Minh

South Korean fashion giant LF announced on Nov. 19 that it has opened an additional Hazzys outlet in Vietnam. The new 130-square-meter outlet is located on the second floor of the Diamond Plaza Department Store in Ho Chi Minh City, its fourth in Vietnam. The company explained that the new store c...
November 19, 2019
Estee Lauder to acquire Korean skincare brand Dr. Jart

US-based cosmetics giant Estee Lauder announced on Nov. 19 that it will acquire Korean cosmetics company Have&Be, which is the parent company of popular skin care brand Dr. Jart. Have&Be’s corporate value is expected to total around $1.7 billion, according to industry insiders. Estee Lauder and ...
November 19, 2019
Hanssem Nexus opens new flagship store in Seoul

An affiliate of South Korea’s leading furniture maker Hanssem Group opened a new flagship store in Seoul on Nov. 19. Spread across 3,300 square feet, Nexus Flagship Seoul is located in Nonhyun-dong, southern Seoul, where many upscale furniture stores are concentrated. The new space will displa...
November 14, 2019
Iljin Materials receives W600b from STIC Investment

South Korean battery developer Iljin Materials announced Nov. 13 that it has received 600 billion won ($512.47 million) in funding from local private equity firm STIC Investment through its unit in Malaysia. The PEF directly funded Iljn Materials Malaysia through a “STIC special situation fund 2,...
November 14, 2019
NPS to vote for Fila Korea’s split-off plan

The National Pension Service of Korea said on Nov. 14 it will vote in favor of Fila Korea ’s plan to turn into an intermediate holding company and split off its Korean operation under its umbrella. NPS, the world’s third-largest pension fund by assets under management, is Fila Korea’s second-...
November 13, 2019
Korean companies eye global cosmetics brand Physiogel

Korean cosmetics giant and private equity firms are considering acquiring global cosmetics brand Physiogel, which is known for its moisturizers, according to industry sources Nov. 13. In June, global pharmaceutical company GlaxoSmithKline decided to sell Physiogel as part of its plan to restructur...
November 11, 2019
Alibaba posts record-breaking sales on Singles’ Day

China’s Singles’ Day, the country’s biggest shopping blitz created by e-commerce giant Alibaba, hit another record on Nov. 11, selling goods worth 84 billion yuan ($12 billion) in the first hour, jumping 22 percent from the same period a year ago. In the first 10 hours, it sold goods amounting ...
November 11, 2019
D’Live hopes to sell Cube Entertainment

South Korean cable TV operator D’Live is hoping to sell Cube Entertainment, the agency behind K-pop signers BTOB and (G)I-dle, according to industry sources Nov. 11. The company has picked EY Han Young to organize its sale. According to sources, Korean cosmetics company VT GMP, a Chinese enterta...
November 06, 2019
KLN Partners to buy major stake in Haimarrow Food Service for W197.3b

Haimarrow Food Service, a local hamburger franchise operator, announced on Nov. 5 that is has decided to sell 57.85 percent stake held by its Chairman Jung Hyun-sik. The PEF will also acquire 1,283,949 shares of convertible bonds after conducting due diligence over the next few weeks, according to...

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