South Korea's Clio Cosmetics Co. acquired a 100% stake in Japanese cosmetics distributor Doowon and cosmetics import agency Kiwami for 8.3 billion won ($6 million).WHO: Founded in 2013 in Tokyo, Japan, Doowon operates as a cosmetics distributor for the Japanese market.Kiwami is an operator of a cosmetics import agency based in Japan focusing on the distribution of beauty and cosmetic products.Based in South Korea, Clio was founded as an OEM in 1993 and has developed a portfolio of owned brands including Clio, Peripera, Goodal, Dermatory, Healing Bird, and Club brands. The company has a presence in the US, Hong Kong, Thailand, and Vietnam.WHY: The transaction solidifies Clio's presence in Japan by acquiring Doowon and Kiwami. Clio aims to establish its own subsidiary in Japan, paving the way for enhanced sales and improved profitability in the medium to long term. By streamlining its business structure in Japan, Clio should achieve efficiencies.DETAILS:South Korea's Clio Cosmetics Co. acquired a 100% stake in Doowon and Kiwami for 8.3 billion won ($6 million).The company has gained significant traction in over 15,000 stores across various channels throughout Japan.In 2016, L Capital Asia acquired a minority stake in Clio.