LG Household & Health Care is hoping to boost the presence of its Ginza Stefany subsidiary in Japan, according to a report published by The Investor. To that end, the company is piling some KRW30 billion into the company.
The investment will be funded by the issue of 60,000 new shares. Ginza Stefany has been steadily upping its cosmetics business in Japan over the last year, with the purchase of Avon Products as well as Evermere Holdings.
“Although we have been focusing mainly on functional food in Japan, we are now trying to expand our cosmetics business,” a spokesperson for LG Household & Health Care told The Investor.