Shinsegae buys low-cost cosmetics brand Amuse from Naver Snow

Quick Summary:

South Korea's Shinsegae International Inc.announced on Friday that it will acquire 100% of Amuse Corp., a cosmetics brand, for 71.3 billion won ($52.6 million) to expand its cosmetics business portfolio beyond luxury products and to kickstart overseas expension.

Shinsegae company plans to expand its presence in the global luxury skincare market with Swiss Perfection, while targeting the young and budget beauty market with Amuse.

It has established itself as a leading K-beauty brand with a series of hit products, including the "Jel-fit Tint" known as the "Jang Won-young (girl group singer) tint," as well as "Bebe Tint," "Ceramic Skin Perfector Cushion," "Dew Jelly Vegan Cushion" and "Dew Tint".

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Article Details

Category: Economy

Markets: South KoreaIndiaJapan

Topics: Brand Cosmetics Million) Billion Shinsegae International Luxury Tint Amuse Expand Corp

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 16:35:29 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 285 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 15 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 21927929

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