CDIB Capital Invests in Leading Skin Care Company in South KoreaHong Kong, April 27, 2017
CDIB Capital is pleased to annouce that it has closed on an investment in L&P Cosmetic Co., Ltd ("L&P"), a leading facial skincare company in South Korea specializing in facial sheet masks and mask pack products. Established in 2009, L&P transformed what was a low-end facial sheet masks used as promotional gift items, into a major facial care product sub-category by developing innovative, high-quality sheet masks with multi-functional applications. The company has successfully developed and marketed facial sheet mask products under its well-known brand, Mediheal, which achieved explosive growth on the back of product popularity amongst Korean consumers adopting sheet masks in their daily facial beauty routine. The company has become the leading player in the product category in Korea as well as the leading Korean brand in the China market.
L&P operates in the high-growth facial-mask pack product category within the ~US$120 billion global facial/skin care cosmetic market. The company’s facial sheet masks has become one of the fastest growing new product category in Asia, especially in the current core markets of South Korea and China where annual growth has exceeded 20%. Further growth prospects are fueled by higher quality facial sheet materials, expanding functionality, broadening age group, and increasing usage frequency, with new beauty trend emphasizing "one mask per day". Additionally, there are significant geographical expansion opportunities in South East Asia, Japan, Middle East, Europe and Americas with increasing popularity of facial sheet masks, particularly amongst the younger age group.
H.Y. Kim, Managing Director at CDIB Capital said, "We have followed L&P for several years, tracking in particular its rapid expansion in Korea and China, and have been impressed by the strength of the brand and the growth achieved by the management. We are excited to be a part of this innovative company, and to be able to assist the Company in its global aspirations.
"We are extremely pleased to have CDIB Capital as new investor in our company," said Ohsub Kwon, Founder and CEO of L&P Cosmetics. "We were most impressed by CDIB’s team and their knowledge and understanding of the cosmetic industry. We look forward to CDIB’s support and insights as we continue to pursue the Company’s significant potential for regional and global expansion.
Lionel de Saint-Exupéry, Chairman and CEO of CDIB Capital added, "We’re delighted to back L&P in its international expansion. We believe that the company is uniquely positioned with exceptional product innovation capabilities and a highly efficient asset light business platform. Under CEO Ohsub Kwon’s leadership, L&P is bound to keep enjoying significant growth on the back of the rapid adoption of facial masks in China and the rest of the world".