THE WHAT? LG H&H has announced that it has agreed to acquire Vivawave for KRW42.5 billion. Vivawave’s make-up brand Hince is a millennial favourite, particularly popular in Japan.
THE DETAILS Vivawave reported revenue of KRW21.8 billion for FY2022, with sales split evenly between the domestic and international markets, The Korea Economic Daily reports.
THE WHY? The acquisition will add heft to LG H&H’s make-up portfolio and it intends to leverage Hince’s strong brand recognition in Japan to build market presence there, as well as expand its customer base to Gen Z.