LG Household & Health Care acquires 65% stake in LA-based brand Creme Shop

[Courtesy of LG Household & Health Care]

SEOUL -- LG Household & Health Care, a major consumer goods company in South Korea, has acquired a controlling 65 percent stake worth $120 million in the Creme Shop, a Los Angeles-based brand that manufactures cosmetics and beauty products.

LG Household said the deal is aimed at strengthening competitiveness in its cosmetics business in North America. The South Korean company signed a call option to purchase the remaining 35 percent stake five years later.

Creme Shop is seen as a K-beauty brand selling trendy products such as basic color cosmetics and beauty accessories targeting young U.S. consumers. LG Household said it would foster its U.S. business by utilizing Creme Shop's K-beauty heritage and local marketing and sales capabilities at a time when interest in K-beauty is increasing due to the strength of K-pop and K-content.

Lim Chang-won cwlim34@ajunews.com

LG Household & Health Care acquires 65% stake in LA-based brand Creme Shop

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