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[Apha Biz=(Chicago) Reporter Paul Lee] LG Electronics will start its own cosmetics business in the first half of next year and expand its beauty device business.
It is a method of selling existing beauty device brand 'Pro.L' exclusive cosmetics along with devices. It is believed to provide customized customer experiences in various areas in addition to home appliances and TVs and diversify profits through new businesses.
According to the industry on the 21st, LG Electronics will release cosmetics exclusively for Prael in time for the launch of new Pra.L models in the first half of next year.
Currently, LG Electronics is conducting various preliminary work such as selecting quality managers to carry out cosmetics sales and reviewing schedules to secure cosmetics production, purchase and quality.
Five months after adding the cosmetics sales business to its business purpose at a shareholders' meeting in March this year, it began behind-the-scenes work to push for the project.
LG Electronics plans to produce Pra.L cosmetics in the form of brand development and production (OBM). OBM is a form in which cosmetics producers take the lead in development, production, planning, and marketing.
LG Electronics plans to work with cosmetics producers to develop product concepts, but lead its business with a focus on establishing sales infrastructure in connection with Prael beauty devices. Business agreements and contracts with cosmetics manufacturers are also expected to take place in the second half of the year.
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