Shinsegae International has acquired the skin care brand Swiss Perfection Montreux, according to Pulse News Korea.
The South Korean company and owner of the Yunjak and Vidi Vici brands reportedly plans to expand Swiss Perfection’s footprint into Asian markets.
With a focus on building the business in Korea early next year, Shinsegae is said to be planning a Chinese expansion within three years.
Pulse News Korea reported that Lee Gil-han, head of Shinsegae’s cosmetics arm said:
“The takeover will lay the foundation for Shinsegae International to grow as a global beauty powerhouse.
“We will continue to increase investments in brands by aggressively looking for acquisitions of domestic and overseas labels with high growth potential.”
Swiss Perfection Montreux sells a range of premium skin care products that include vegetal cellular extraction technology.