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| ▲ This undated image provided by Shinsegae International Inc. shows Laura Mercier products. (PHOTO NOT FOR SALE) (Yonhap) |
Shinsegae International-Laura Mercier
Shinsegae International signs exclusive distribution rights to Laura Mercier in Korea
SEOUL, Dec. 12 (Yonhap) -- Fashion and cosmetics retailer Shinsegae International Inc. said Monday it has signed an agreement with Orveon Global US LLC to exclusively distribute Laura Mercier in Korea, 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. Orveon bought three cosmetics brands -- Laura Mercier, bareMinerals and BUXOM -- from Shiseido Americas Corp. last year.
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.
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