Shinsegae International will fully acquire beauty brand K-beauty brand Amuse for $51.6 million to diversify its cosmetic business portfolio.WHO: Amuse, launched in 2018, is a lifestyle vegan and wellness beauty brand with a following with millennials and Gen Z, globally, with a solid brand identity, on-trend design, and unrivaled product planning ability. Products such as Jel-fit Tint, known as the Jang Won-young Tint, as well as Bebe Tint, Ceramic Skin Perfector Cushion, Dew Jelly Vegan Cushion, and Dew Tint became viral hits one after another. Jang Won-young, a K-pop singer from the girl group IVE, is a significant influencer associated with the brand. The brand has established various sales channels, including its proprietary online mall, H&B store, and offline flagship store.Shinsegae Department Store is a retail giant in Korea, with operations including large retail franchise E-Mart, hotel business including 5-star hotel Westin, and the Shinsegae Duty-Free store, among others.WHY: This transaction is a strategic move to diversify Shinsegae’s cosmetics portfolio beyond luxury products and strengthen its global presence. Shinsegae plans to expand its presence in the global luxury skincare market with Swiss Perfection while targeting the young and budget beauty market with Amuse. IN THEIR OWN WORDS: “We are pursuing various growth strategies in the beauty sector, and the acquisition of Amuse is expected to provide significant momentum to expand our global business,” said William Kim, Shinsegae International CEO.DETAILS:Shinsegae International will fully acquire beauty brand K-beauty brand Amuse for $51.6 million.Amuse's largest shareholder is Snow Corp.