L’Occitane Group Takes On Korean Firm
Posted on August 2, 2012 @ 07:21 am
As Korean goods gain acclaim, and Asian skin care consumers thrive in number, L’Occitane Group has announced the purchase of Symbiose Cosmetics, a Korean manufacturer of “oriental medicine cosmetics.”
L`Occitane Group reportedly acquired 50.14% of Symbiose, and expects to increase that to 63%. The remaining 37% is owned by Symbiose founder and CEO Lee Ho-jung, who once served as a cosmetics developer at L’Oreal.
Symbiose`s premium brand Erboriant is sold at major stores in Europe.
L`Occitane Group reportedly acquired 50.14% of Symbiose, and expects to increase that to 63%. The remaining 37% is owned by Symbiose founder and CEO Lee Ho-jung, who once served as a cosmetics developer at L’Oreal.
