Korean personal care giant LG Household & Health Care has signed an agreement to acquire a 75% stake in Vivawave, which owns premium Korean makeup brand Hince, for 42.5 billion won ($31.5 million).

WHO: Launched in 2019, Hince is a millennial makeup brand based on a "mood" concept highlighting natural color palettes, serving a dedicated following that seeks to express their unique styles. Hince has 212,000 followers on Instagram in South Korea and 83,000 in Japan.

LG Household & Health Care is Korea’s leading consumer goods company, with strong market positions in all major categories including cosmetics, personal care, and home care. LG H&H currently distributes a number of its brands in the US, including belif and The History of Whoo.

WHY: The acquisition will enhance LG H&H’s makeup portfolio and solidify its customer base among young consumers. Hince’s strong brand recognition in the Japanese market will aid in accelerating its market presence in Japan.

DETAILS:

• LG H&H is to acquire a 75% stake in Vivawave owner of Korean makeup brand Hince for 42.5 billion won ($31.5 million).
• Hince's sales revenue, as of last year, was 21.8 billion won ($16.2 million), with a 50% share from both domestic and international markets. Most of the international sales come from Japan.
• In April 2022, LG Household & Health Care acquired a controlling stake in The Crème Shop in a 148.5 billion won ($120 million) deal.
• In September 2021, LG Household & Health Care acquired a 56% stake in American haircare product manufacturer of Arctic Fox for $100 million.