Business Category Podcasts Reports
Contact My Account About
Click to Share

LG Acquires Majority Stake in Arctic Fox Manufacturer Boinca

September 15, 2021 BeautyMatter
September 15, 2021
Arctic Fox

LG Household & Healthcare Co. acquired a 56% stake in American haircare product manufacturer Boinca for $100 million.

WHO: Boinca is a California-based haircare manufacturer that launched the vegan, cruelty-free, semi-permanent hair color dye brand Arctic Fox in 2014. The brand has over two million social media followers and has topped major e-commerce platforms such as Amazon, Sally's Beauty, and Ulta Beauty.

WHY: The purchase is intended to boost LG's overseas haircare business and strengthen its competitiveness in the premium haircare product market.

IN THEIR OWN WORDS: "The global haircare market is estimated to be around ₩90 trillion," Korea Joongang Daily quoted LG Household & Health Care as saying in a statement. "In the market, high-end hair care products account for about 20% and Arctic Fox's brand recognition in the U.S. could help LG's household and health care arm to enter the premium hair care market."


  • LG Household & Healthcare Co. acquired a 56% stake in Boinca Inc. for $100 million.
  • Boinca's Arctic Fox vegan concept has reported annual growth of 89% over the last three years.
  • LG Household & Health Care acquired a 100% stake in New Avon, also based in the United States, in 2019.

2 Article(s) Remaining

Subscribe today for full access