Shinsegae International — the beauty division of South Korean conglomerate Shinsegae Group — has acquired a 100% stake in luxury skincare brand Swiss Perfection Montreaux.
Shinsegae International plans to expand the brand’s footprint in the Asia Pacific market. It will initially launch Swiss Perfection Montreaux in South Korean department stores and travel retail, with plans to roll out distribution in China over the next three years.
Shinsegae International also owns the Vidivici and Yunjak beauty brands. Vicivici, acquired in 2012, has been a spectacular success over recent years in Korean travel retail and other channels.
Swiss Perfection Montreaux was founded in 1998 and is one of the first brands to utilise cellular extraction technology in cosmetics. Its Cellular Active IRISA complex, which is made from superior anti-aging plant cells, is the key ingredient to Swiss Perfection’s biotechnical skincare range.
The brand currently has a strong B2B distribution network with luxury spas and hotels in Europe, Asia Pacific and the Middle East.
Shinsegae International Cosmetics Division Head Lee Gil Han told Pulse News Korea, that the acquisition will help “build the foundation for Shinsegae International to grow as a global beauty powerhouse.”
Lee added, “We will continue to increase investments in brands by aggressively looking for acquisitions of domestic and overseas labels with high growth potential.”
