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[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Household & Health Care announced on the 26th that it has acquired a 75% stake in Vivawave, which owns premium color cosmetics brand HINCE, for 42.5 billion won.
HINCE is a popular brand among the MZ generation and is doing well in the Japanese cosmetics market, the world's third-largest.
LG Household & Health Care explained, "The purpose is to secure the competitive capacity of color cosmetics while acquiring the management rights of Vivawave."
HINCE has been gaining popularity among the MX generation based on hit products such as "Second Skin Foundation" and "True Dimension Radiance Bomb" since its launch in January 2019. Currently, HINCE has 212,000 followers of Instagram domestic accounts and 83,000 Japanese accounts.
It is sold in various channels such as online mall, Olive Young, H&B store, and offline flagship store. Annual sales are 16.4 billion won in 2021 and 21.8 billion won in 2022. The proportion of sales is 50% in Korea and 50% overseas, with most of the overseas sales coming from Japan.
LG Household & Health Care plans to strengthen its color cosmetics portfolio by utilizing HINCE's differentiated color brand building capabilities.
LG Household & Health Care plans to actively utilize the recognition of the MZ generation and Japan through the acquisition of HINCE.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
