LG Household & Health Care, Ltd. (LG H&H) has announced that its Japanese affiliate Ginza Stefany will acquire 100% of Avon Japan for ¥10.5 billion.
A 2016 study from Euromonitor ranked Avon #21 among foreign brands in Japan, higher than Lancôme (#27), and Estee Lauder (#41). The cosmetics company reported Japanese sales of ¥100 billion for 2017.
LG H&H intends to remove Japanese business constraints and strengthen the synergy of the company’s current business expansions while enhancing its research and development capabilities.
Related: Avon to Exit Australia and NZ