Unilever to acquire personal care company Carver Korea


It means that amid the tension of THAAD, domestic beauty brands have taken a direct hit, and beauty brands with technical know-how and specialty products are becoming case studies and showing off their potential.

The move towards the cosmetic and personal care sector has already seen the FTSE 100-listed giant acquire a number of beauty brands, including Dermalogica, Ren, Murad and Living Proof as they offer higher growth and profit margins, compared to its food brands.

The company on Monday announced its acquisition of leading skin care brand Carver Korea from Goldman Sachs and Bain Private Equity for $2.68 billion (2.27 euro).

Marketing has reached out to Unilever and Carver Korea for comment.

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Goldman and Bain bought the stake in Carver, whose beauty product brands including flagship skincare line A.H.C., just past year.

Carver Korea's AHC brand, pictured here, will be acquired by Unilever.

Founded in 1999, Carver is reportedly the fastest growing skincare business in South Korea and has shown exponential growth over the last five years - with sales of £282 million and earnings of £120 million in just last year.

The Anglo-Dutch behemoth said Carver was "an impressive business" and highlighted the deal will boost its profile across North Asia, which is now the largest market in the world for skincare products.

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Unilever said the range includes the product Eye Cream for Face, along with essences, toners, moisturisers, masks and sunscreens.

"The company has also been working to fend off an increasingly sophisticated array of local competitors that market through channels such as Instagram and YouTube and often sell directly to customers over the web". "The value of South Korea's beauty market will reach about $13 billion this year, according to market researcher Mintel".

South Korean cosmetics companies had robust growth in past years, helped by strong Chinese demand, which has weakened recently amid geopolitical disputes in the region.

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