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(Photo=Clio) |
[Alpha Biz= Reporter Kim Jisun] Clio acquired a local vendor in Japan and secured a new growth engine in the overseas cosmetics market.
Clio announced on the 19th that it had acquired 100% shares of two companies, including Japanese cosmetics seller 'Doowon' and cosmetics import agency 'Kiwami', for 930 million yen (about 8.3 billion won).
Starting with the Peripera brand in 2013, Duwon is a key vendor that has supplied Clio's color brand to the Japanese market. It is a strategic partner that helped Clio quickly settle down and grow in Japan. Duwon has strong sales know-how in offline wholesale and retail distribution channels, which is expected to serve as a major bridgehead for Clio to make another leap forward in the Japanese market.
Clio will officially establish Clio Japan and plan to increase sales as well as improve profitability in the mid- to long-term by streamlining its business structure in Japan.
Clio recorded the highest sales of 330.6 billion won in 2023. Operating profit rose 89% to 33.8 billion won while continuing to improve profitability by streamlining distribution channels and expanding the proportion of basic sales.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
