Breaking News

Coty Teams Up with LG in South Korea

July 26, 2012

Philosophy to debut this Fall.

Coty Inc. and LG Household & Health Care have created Coty Korea, a joint venture established to expand the presence of both companies in the Korean cosmetics market.

According to Coty, the partnership marks an important move to further increase its presence in Asia and strategically build its cosmetics and skin care business worldwide. While for LG H&H, the partnership demonstrates further enhancement in LG H&H’s leadership in Korean consumer market, which was built on nonstop organic growth and a continuous stream of acquisitions and new ventures. Coty Korea will be led by a Coty executive as CEO of the new venture.

“Korea is a key emerging market for the beauty industry, and our respective organizations have worked together extensively in our plan for success there,” said Michele Scannavini, president, Coty Prestige. “On top of growing Coty’s presence in Asia, this partnership represents an important step toward our ambitious goal of expanding our cosmetic business across the globe. Our ‘Faster. Further. Freer.’ culture, combined with LG H&H’s dynamic leadership in the marketplace, will allow us to fulfill the innovative vision we’ve set forth for the company.”

“We are very excited to be the strategic partner for Coty Inc., and be a part of Coty’s first steps in expanding its cosmetics product portfolio into this growing market. This partnership will also further increase LG H&H’s leading presence in Korea,” said Suk Cha, CEO of LG H&H. “We look forward to a long and fruitful relationship with Coty, which is also a major global player in beauty. It is a company whose culture and goals are complementary to our own and with whom we can potentially discuss other common projects abroad.”

This fall, Coty Korea will kick off its efforts by introducing Philosophy into the Korean marketplace. The Philosophy brand will play a key role in the expansion of Coty’s portfolio of products, particularly its skin-care structure throughout Asia. The importance of skin care products cannot be overestimated in the Asian marketplace — particularly in Korea, China and Japan, where skin care is valued over color cosmetics by women who are looking for flawless skin.

Beyond the launch of Philosophy, Coty Korea will continue to look for opportunities to further expand and enhance its presence in the market.
blog comments powered by Disqus
  • A Facial Bar Grows in Brooklyn

    A Facial Bar Grows in Brooklyn

    Christine Esposito, Associate Editor||October 24, 2016
    With three doors in Canada, Blitz Facial Bar opens its first US location in one of the hippest areas of New York.

  • Free and Clear

    Free and Clear

    Melissa Meisel, Associate Editor||October 17, 2016
    OY-L aims for zero-chemical skin care.

  • Coming Clean on a Host of Issues

    Coming Clean on a Host of Issues

    October 17, 2016
    Cleaning Products Conference is set for Nov. 9-11, 2016 in Washington DC.

  • Change Is in the Air

    Change Is in the Air

    Doreen Wang, BrandZ ||October 3, 2016
    Technology is changing the personal care market

  • Skin Care of One’s Own

    Skin Care of One’s Own

    Christine Esposito, Associate Editor||October 3, 2016
    Nu Skin’s ageLOC Me—which melds the worlds of smart-phone technology, efficacious ingredients and personalization

  • Proof Positive

    Proof Positive

    Christine Esposito, Associate Editor||October 3, 2016
    Testing service providers enable companies to back up their claims and stay in compliance with regulations.