LG Household & Health Care Fully Acquires The Creme Shop, Boosts North American Expansion
Creatrip Team
a year ago
LG Household & Health Care has won a legal dispute and fully acquired The Creme Shop, a U.S. cosmetics company, by securing the remaining 35% stake for $66.8 million. As a 100% subsidiary, The Creme Shop is expected to strengthen LG's market presence in North America, targeting budget-conscious consumers interested in K-beauty (Korean beauty products). Despite other North American ventures underperforming, The Creme Shop shows promising growth, particularly popular among Gen Z. LG intends to accelerate its North American strategy, expanding online and offline sales channels and focusing on appealing to young consumers with brands like belif and The Face Shop.
