×
193
Fashion Jobs
KITEX GARMENTS LIMITED
General Manager - Merchandiser
Permanent · ALUVA
ZODIAC CLOTHING CO LTD
Sourcing Officer (Fabric & Garment)
Permanent · MUMBAI
LIFESTYLE BRANDS
Head of Marketing, Louis Philippe - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Online Sales &Amp; Merchandising Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU
LIFESTYLE BRANDS
Senior Executive - Garment Technician (ww &Amp; Kids), Pdqa
Permanent · BENGALURU
LIFESTYLE BRANDS
Sales Executive - Kannur &Amp; Kasargod
Permanent · BENGALURU
HIGH FASHION GARMENT COMPANY
Manager Humanr Resource (Male) From Mumbai Only
Permanent · MUMBAI
RAJ KHATRI FILMS PVT LTD
Digital Marketing Executive
Permanent · MUMBAI
PANTALOONS HO
Manager - Digital Marketing - Mumbai
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Buying, Peter England- Bangalore
Permanent · BENGALURU
ANANDGUPTA COUTURE
Social Media Marketing & Fashion Design Assistant
Permanent · MUMBAI
DESIGNR
Sales Officer
Permanent · NEW DELHI
NETE.IN
CRM & Logistics Executive
Permanent · MUMBAI
FABINDIA OVERSEAS PVT. LTD.
Retail Planner
Permanent · NEW DELHI
SELECTIVE GLOBAL SEARCH PVT. LTD.
Business Development
Permanent · NEW DELHI
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KARIMNAGAR
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · MIRYALAGUDA

Goldman Sachs, Bain to buy majority stake in cosmetics firm Carver Korea

By
Reuters
Published
today Jul 18, 2016
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Goldman Sachs Group Inc and Bain Capital Private Equity will acquire a majority stake in unlisted cosmetics maker Carver Korea Co. Ltd., seeking to tap into the growing popularity of South Korean beauty products in markets such as China.

The companies said in a joint release that Carver Korea founder and Chairman Lee Sang-rok, who held a 60.2 percent stake in the firm at end-2015, will retain a minority stake and "participate in day-to-day management".


Carver Korea DNA eye cream - Carver Korea


Details, including the specific stakes the foreign buyers are getting, were not disclosed. But a person familiar with the matter told Reuters that Goldman and Bain together are paying more than 350 billion won ($307.45 million) to get majority ownership of Carver.

The acquisition comes as the so-called Korean Wave of culture exports, from soap operas and K-pop music to food and fashion, boost overseas demand for beauty products. Major domestic brands such as Amorepacific have been among the chief beneficiaries, with their share-prices soaring on hopes for sustained growth.

Kyobo Securities said in a report South Korean exports of cosmetics products set a quarterly record of $874.3 million in April-June, thanks to growing shipments to China and the United States.

January-May sales for Carver, which owns beauty product brands including flagship skincare line A.H.C., were up more than 200 percent from a year earlier and topped the 150 billion won figure for all of 2015, the joint statement from Carver, Goldman and Bain said.

Carver sells about 1,000 products in South Korea, China and the U.S.

($1 = 1,138.3900 won) 

 

© Thomson Reuters 2019 All rights reserved.