Follow us twitter facebook
Edition: Global
Click here to subscribe toour free weekly newsletter click here
Industry buzz

Korres partners with Morgan Stanley and China’s Profex to boost development in Asia

North Haven Private Equity Asia (NHPEA), a private equity fund managed by Morgan Stanley, and Chinese distributor of dermo-cosmetic products Profex, have agreed to acquire majority share in leading Greek natural cosmetics producer Korres for EUR 48.3 million (USD 58.2 million), the three companies announced. Under the terms of the agreement, the Korres family will keep 30 percent of the company with the two new investors holding 70 percent (56 percent for NHPEA and 14 percent for Profex).

Through this agreement, Korres intend to develop beyond Europe and North and South America, where the brand has already established strong presence. International development should be boosted by strong growth in Asia, in particular thanks to a better access to the Chinese market.

Founded in 2001, Profex is a Chinese company with a leadership position in dermatology and skincare. The company licenses, acquires and markets dermatological and skincare products for the Chinese market.

Profex is excited about the prospect of working with the outstanding Greek company Korres - and offering Chinese consumers the opportunity to experience and embrace a uniquely natural and effective cosmetic brand like Korres,” said the company in a release.

© 2018 - Premium Beauty News - www.premiumbeautynews.com
latest news
Focus
spip-vignette

A new trade show dedicated to clean beauty in London

Dubbed Clean Beauty in London the new trade show intends to gather experts, scientists, suppliers, brands, influencers and journalists under one roof “to build the future of clean beauty.” Taking place on October 12 & 13, 2020 at The Brewery, located at 52 Chiswell Street at the heart of London, the event aims to encourage (...)

read more
job opportunities
Experts’ views
India emerges as the next beauty giant

Asia Cosme Lab
India emerges as the next beauty giant

Thanks to a growing young population (first youth population in the world) and the emergence of a vast middle class, as well as a higher Internet connection from both urban and rural areas, India is set to emerge as the next beauty giant after China. Asia Cosme Lab took a deep dive in the fascinating Indian market, where both (...)

read more

Features

We use cookies to give you a better browsing experience. By continuing your visit to this site, you accept the use of cookies. Read more and set cookies
close