Amorepacific has exercised its option to increase its stake in acquiring 288,000 remaining shares held by COSRX's largest shareholder and related parties for $559.7 million. With the recent transaction, the Korean beauty conglomerate is expected to own 93.2% of the business.
WHO: Founded in 2013, COSRX is a K-beauty brand with eight product lines distributed in 40 countries, including the US, Southeast Asia, Europe, China, and Japan. The products are designed for sensitive skin, with its hero ranges being the Advanced Snail and RX lines.
Founded in 1945, Amorepacific has grown to be Korea's leading beauty company with its portfolio of over 20 cosmetics, personal care, and health care brands. Amorepacific is devoted to meeting the various lifestyles and needs of global consumers around the world: Asia, North America, Europe, Oceania, and the Middle East.
WHY: The conglomerate exercised a call option and said it plans to accelerate COSRX's global expansion through co-developed launches like the brand’s The Vitamin C 23 Serum and The Retinol 0.1 Cream, which were co-created following Amorepacific’s initial 2021 equity investment.
IN THEIR OWN WORDS: “We are thrilled that COSRX, which has shown rapid growth through differentiated products and marketing based on an exceptional understanding of digital channels, has become a part of our group,” said Amorepacific CEO Seunghwan Kim.
“Moving forward, we aim to amplify COSRX’s unique strengths while also integrating Amorepacific’s vision and business management expertise to develop it into a captivating brand that global customers will love.”
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