LG H&H acquires S.Korean makeup brand Hince

It purchases a 75% stake in Vivawave for $31.5 mn, aims to enhance brand power in young consumers and the Japanese market

LG H&H acquires S.Korean makeup brand Hince
Soo-Jung Ha 1
2023-09-26 15:25:15 agatha77@hankyung.com
Beauty & Cosmetics

South Korea's LG H&H Co. announced on Tuesday that it has signed an agreement to acquire a 75% stake in Vivawave, which owns the domestic premium makeup brand "Hince," for 42.5 billion won ($31.5 million).

Launched in 2019, Hince is a makeup brand with a mood concept that highlights natural colors. It has cultivated a strong following among young consumers born between the early 1980s and the early 2000s who value their unique styles. Hince has 212,000 followers on Instagram in South Korea and 83,000 followers in Japan.

The company's sales revenue, as of last year, was 21.8 billion won ($16.2 million), with a 50% share from both domestic and international markets. Most of the international sales come from Japan.

LG H&H plans to strengthen its makeup portfolio with the latest acquisition and solidify its customer base among young consumers. It also aims to accelerate its market presence, particularly in Japan, the world's third-largest beauty market, leveraging Hince's strong brand recognition.

According to global market research firm Euromonitor, the global makeup market is expected to grow at an annual rate of 8%, reaching $95 billion by 2027, up from $64.5 billion in 2020.

Write to Soo-Jung Ha at agatha77@hankyung.com
#LG Household & Health Care #Vivawave #Hince #makeup brand #young consumers

LG H&H's The Whoo unveils Cheongidan renewal line in Shanghai

LG H&H's The Whoo unveils Cheongidan renewal line in Shanghai

LG H&H Co. announced on Thursday its strategy to focus on the Chinese market by unveiling a renewal version of "Cheongidan," the flagship product from its luxury skincare line, "The History of Whoo." The newly revamped product will launch globally starting in China Sept. this year.This ren

Heyday over for Amorepacific, LG Household in China’s beauty market

Heyday over for Amorepacific, LG Household in China’s beauty market

Amorepacpfic's premium cosmetics brand Sulwhasoo Amorepacific Corp. and LG Household & Health Care Ltd., basking in the global K-beauty boom, reaped handsome profits in China, the world’s largest consumer market, before the pandemic.With the reopening of its economy, however, the Chin

LG Household acquires The Crème Shop for US expansion

LG Household acquires The Crème Shop for US expansion

LG has basked in the global boom of the K-beauty LG Household & Health Care Ltd. has acquired a controlling stake in The Crème Shop Inc. as it seeks to expand its presence in the US beauty and cosmetics market while reducing its heavy reliance on China, its primary revenue source.LG

LG Household to lower reliance on Chinese market as shares slump

LG Household to lower reliance on Chinese market as shares slump

Chinese consumers are looking at products from LG Household's cosmetics brand Whoo LG Household & Health Care Ltd. was one of the most coveted shares on the Korean bouse in the past couple of years as the company basked in the global boom of Korean cosmetics, collectively known as the K-bea

LG Household’s China strategy put to test as shares crash

LG Household’s China strategy put to test as shares crash

Shares of LG Household crashed on Monday, weighed by cooling demand from China LG Household & Health Care Ltd.’s shares have been flying high since its market debut in 2001, and have more recently basked in the global boom of Korean cosmetics, collectively known as the K-beauty, in li

LG Household continues cross-border M&A push in cosmetics market

LG Household continues cross-border M&A push in cosmetics market

LG Household & Health Care Ltd. was the most aggressive South Korean cosmetics firm in the cross-border M&A market between 2010 and 2019, with the value of the global acquisition market for makeup brands posting explosive growth over the past five years, according to a Samjong KPMG report on
(* comment hide *}