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THE WHAT? LG Family & Well being Care is pinning its hopes for future development on the North American market, in keeping with a report printed by Nikkei Asia. Because the Okay-beauty behemoth’s new management group settles in, the producer of O Hui is alleged to be pivoting away from China.
THE DETAILS New CEO Lee Jung-ae has recognized the USA as the corporate’s subsequent development market. What’s extra LG H&H has been constructing its presence within the area over the past three years with excessive profile acquisitions of New Avon, Boinca and The Crème Store, Nikkei Asia studies.
THE WHY? With anti-Korean sentiment constructing and homegrown C-beauty manufacturers gaining floor in China even earlier than the prolonged Covid restrictions hit producers and closed shops, LG H&H gross sales have taken successful of late, dropping 11 % to KRW7.19 trillion final yr.
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