US, Europe bet big on K-beauty products, skincare with acquisition deals

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US, Europe bet big on K-beauty products, skincare with acquisition deals - Business Standard

Quick Summary:

The upbeat outlook for South Korea’s cosmetics companies is in contrast to the challenges faced by global brands such as Estee Lauder Co.which forecast a drop in net sales for the current quarter in March.

Reports suggest local private equity firm KL & Partners is eyeing control of Manyo Factory, the maker of a serum featured in popular Korean TV drama Crash Landing on You.

A TikTok and Kantar research last year forecast global spending on Korean cultural products to nearly double to $143 billion by 2030.