330 Million Acquisition Of L&P10% Stake In Korean Cosmetics Company

The first high-end women's clothing listed company in China is a modern enterprise integrating R & D, production, sales and logistics.

Recently,

Announced that it would spend 600.32 won (about 330 million yuan) to acquire L&P Cosmetic Co. and Ltd. 10% stake in Korea cosmetics group.

The company adopted the takeover decision at its shareholders' meeting on Monday, and the acquisition funds were all owned by itself.

L&P Cosmetic Co., Ltd. is well-known in Korea.

Its brands include Mediheal, T.P.O, Mediental, Labocare and other beauty brands. Its main product is Mediheal mask (Mei Di Hui, also known as "Kreis" in China).

The products of L&P Cosmetic Co. and Ltd. are mainly sold in Korea and China. The sales channels in South Korea include duty-free shops, drugstores, specialty stores, supermarkets, shopping malls, drugstores, etc., and have realized the full coverage of cosmetic channels. It is said that sales volume is the first place in the mask category of many channels.

Citing the statistics of the first half of 2015, the Korean trade and Investment Promotion Agency (KOTRA), known as Mediheal, is the largest selling Korean mask brand on the Chinese line, ranking second in all the mask brands on the China line.

It is reported that in 2014, L&P Cosmetic Co., Ltd. mask sales reached 70 million, sales increased by more than 500%; in the first three quarters of 2015, despite the impact of the MERS epidemic, mask sales volume also exceeded 300 million, sales increased by more than 200% over the same period.

In the 2014 fiscal year ending December 31, 2014, L&P Cosmetic Co. and Ltd. recorded a 313 million 550 thousand yuan net profit of 788 billion 600 million yuan, a total income of 688 million 430 thousand yuan in January 2015, and a net profit of 193 million 600 thousand yuan.