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.
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