SEOUL– Fashion and cosmetics retailer Shinsegae International Inc. said Monday it has acquired the exclusive domestic license from French cosmetics brand Laura Mercier, as it seeks to expand its imported cosmetics business.
Laura Mercier, founded in 1996 by a French makeup artist of the same name, is sold in some 40 countries globally.
Asia is one of Laura Mercier’s key markets, accounting for 20 percent of the brand’s sales, Shinsegae International said. The local rights to the brand were previously owned by Shiseido Korea Co., the Korean arm of Japanese cosmetics brand Shiseido.
Shinsegae International said it plans to open more Laura Mercier stores at major department stores and duty-free shops while selling the products online through the Shinsegae-owned e-commerce shop SiVillage.
“We plan to secure growth momentum by discovering new brands in fashion and beauty,” an official from Shinsegae International said.
Source: Yonhap News Agency