Pond Group, a South Korean original design manufacturing (ODM) clothing company, said on Monday it has acquired Most Inc., a domestic beauty product distributor, to make its foray into the cosmetics market and bolster its global sales network.Most Inc., founded in 2018, sells beauty products of some 30 Korean brands globally mainly through Costco Wholesale Corp., a big-box supermarket chain.
Operating profit at Cowell Fashion, the parent of Pond Group, slipped 12% to 34.4 billion won in 2023, versus 39.0 billion won in 2022.Youngone Corp., a Korean ODM for The North Face and Nike, posted a 23% fall to 637.1 billion won in operating profit, compared with the previous year's 823.0 billion won.
It promotes them via social media influencers for viral marketing.Most Inc.is now in talks with a leading US cosmetics retailer to broaden its sales network beyond North America, Mexico, Taiwan and Australia into Japan, UK, Spain and France.Most Inc.’s founder and Chief Executive Chung Da-yeon will continue to lead the company after the deal, the value of which was not disclosed.
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