04.21.22
South Korean beauty company LG H&H, an affiliate of LG Group, has acquired a majority stake in Los Angeles-based beauty brand The Crème Shop.
Founded by South Korean immigrants Christina and Lawrence Kim, The Crème Shop is known for its whimsical and vibrant skincare, makeup, and beauty accessories that appeal to a diverse group of consumers and possess a strong following among Gen Z and Millennials due to their reasonable prices, high quality, and ethos.
The Crème Shop has experienced massive growth in the past few years despite challenges caused by the Covid-19 pandemic and global supply chain issues, and has a multi-channel distribution model that includes mass retail via partners like Ulta, CVS, Macy’s, and Urban Outfitters. Furthermore, the brand’s successful collaborations with Hello Kitty, BT21, and Disney have placed them as a fan-favorite in the competitive landscape.
By claiming a majority stake in The Crème Shop, LG H&H plans to further expand in the beauty and personal care industry and solidify its presence in the North American market while growing The Crème Shop into a global brand.
The Crème Shop and LG H&H share a common long-term goal: to not only make Korean beauty and innovation readily accessible to the rest of the world, but to spotlight Korea’s rich culture.
The buy-out was subject to standard regulatory approvals.
Founded by South Korean immigrants Christina and Lawrence Kim, The Crème Shop is known for its whimsical and vibrant skincare, makeup, and beauty accessories that appeal to a diverse group of consumers and possess a strong following among Gen Z and Millennials due to their reasonable prices, high quality, and ethos.
The Crème Shop has experienced massive growth in the past few years despite challenges caused by the Covid-19 pandemic and global supply chain issues, and has a multi-channel distribution model that includes mass retail via partners like Ulta, CVS, Macy’s, and Urban Outfitters. Furthermore, the brand’s successful collaborations with Hello Kitty, BT21, and Disney have placed them as a fan-favorite in the competitive landscape.
By claiming a majority stake in The Crème Shop, LG H&H plans to further expand in the beauty and personal care industry and solidify its presence in the North American market while growing The Crème Shop into a global brand.
The Crème Shop and LG H&H share a common long-term goal: to not only make Korean beauty and innovation readily accessible to the rest of the world, but to spotlight Korea’s rich culture.
The buy-out was subject to standard regulatory approvals.