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[Alpha Biz= Reporter Kim Jisun] On September 2nd, Naver's subsidiary Snow announced the sale of its entire stake in AMUSE, a vegan beauty brand, to Shinsegae International.
AMUSE was introduced in 2017 by Snow through its namesake subsidiary and has since grown into a leading young and popular brand in the K-beauty industry. AMUSE has made a name for itself in both domestic and international markets, including North America, Japan, and Southeast Asia, where it is recognized for setting trends. The brand has established a diverse range of sales channels, including its own online store, Olive Young, various health and beauty (H&B) stores, and offline flagship stores. AMUSE has achieved an impressive five-year compound annual growth rate (CAGR) of 176%. Last year, the brand recorded an annual revenue of 36.8 billion KRW, and in the first half of this year, it generated 25.4 billion KRW in sales.
Shinsegae International plans to leverage the acquisition of AMUSE to aggressively expand its presence in overseas markets. The company aims to rapidly increase its market share in North America and Japan, the world's first and third largest cosmetics markets, respectively, while accelerating its global beauty business. Additionally, Shinsegae International intends to build on AMUSE's existing fanbase to establish a strong foundation for expanding its international business.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
