Laura Mercier inks South Korea exclusive rights agreement with Shinsegae
French beauty brand Laura Mercier has inked a new exclusive rights agreement with Shinsegae International, for the distribution of its cosmetics and skincare in South Korea.
Shinsegae 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.
The move comes as the Korean fashion and cosmetics retailer looks to bolster its international roster of brands.
"We plan to secure growth momentum by discovering new brands in fashion and beauty," an official from Shinsegae International said.
According to Shinsegae International, Asia is one of Laura Mercier's key markets, accounting for 20% of the brand's sales.
The Korean rights to the Laura Mercier brand were previously owned by Shiseido Korea Co., the local arm of Japanese cosmetics brand, Shiseido.
In August 2021, parent company Shiseido announced that it will be selling its BareMinerals, Buxom and Laura Mercier makeup brands to AI Beauty Holdings, an entity owned by private equity partnership Advent International.
Founded in 1996 by French makeup artist Laura Mercier, the namesake beauty brand is sold in some 40 countries globally.
Copyright © 2023 FashionNetwork.com All rights reserved.