To Expand Presence in the U.S. Market
LG Household & Health Care announced on April 20 that it has acquired a 65 percent stake in The Crème Shop, a Los Angeles-based beauty brand, for US$120 million (approximately 148.5 billion won).
Founded in 2012, The Crème Shop is a brand that specializes in Korean cosmetics (K-beauty) and related accessories for young women.
Marie Claire, a global fashion and beauty magazine published in the United States, selected The Crème Shop as one of the best K-beauty brands in the United States at the end of 2021. The brand has also been introduced by famous magazines such as Allure, BuzzFeed, and Vogue, which helped it strengthen its position as a leading K-beauty brand.
At a time when interest in K-beauty is increasing day by day due to the rising popularity of K-pop and K-content, LG H&H plans to develop its American business by utilizing The Crème Shop’s K-beauty heritages, local marketing and sales capabilities.