LG Household & Healthcare reveals plans for growth in China

By Michelle Yeomans

- Last updated on GMT

LG Household & Healthcare reveals plans for growth in China

Related tags Middle east

Korean consumer goods giant LG Household and Health Care has revealed China to be its' main focus this year with new products. 

At the beginning of the month, vice chairman of the South Korean firm, Cha Suk-yong said that the brand had chosen Greater China as its' target market this year for growth.

Despite taking months or years to launch new labels in China in the past, the Korea Herald reported the company to be planning the launch of new brands simultaneously in Korea and China.

The regional publication writes that the company is streamlining its beauty goods business to focus on high-end brands, such as O’hui, SU:M and The History of Whoo, has helped boost its China sales. 

We’ll continue to strengthen our competitive edge in the premium market and actively respond to the increasing demand from duty-free and online stores​,” says Cha.

Taking more international steps...

LG Household & Healthcare has been taking more international steps of late, particularly in cosmetics, even making plans to further expand in EMEA.

The firm recently acquired Japanese firm Everlife and Canadian retailer Fruits & Passion, and has signed an agreement to open and develop TheFaceShop stores in Russia.

The company has also announced plans to open two outlets in Jordan, the most politically stable country in the Middle East, as a stepping stone into the surrounding GCC countries such as Saudi Arabia and Kuwait.

"We are considering both local and overseas deals,"​ a company spokesperson reports.

The FaceShop is a body, bath, skin care and make-up product retailer in the brand’s portfolio. The brand is also present in the US, Australia, Taiwan, Vietnam, Hong Kong, Dominican Republic, Mongolia, Japan, China, Singapore, Thailand and Indonesia.

Focus on EMEA

TheFaceShop plans to focus its activities in Russia on natural cosmetics. The company has high hopes for the development of natural cosmetics in the Russian market, where local demand for natural cosmetics is steadily growing.

The company that will distribute for the SK brand 'Direct', reports the first Russia based store will be opened in St. Petersburg by June, with more stores throughout the country planned by 2017.

The value of the investment at the initial stage is expected to reach US$20m, but that figure may significantly increase during the next several years. 

One reason for this is vigorous activity of beauty retailers, which in recent years have significantly increased sales of natural cosmetics and expanded their range in the Russian market.

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