Shinsegae and Ascent Equity Partners invest USD 208M in C&C International, strengthening global cosmetics production
The acquisition broadens the retailer’s Korean beauty portfolio by adding a manufacturing company to its lineup.
KOREA – South Korea’s retail powerhouse Shinsegae Group, in collaboration with Ascent Equity Partners, has announced a USD 208 million investment in C&C International, a leading original design manufacturer (ODM) specializing in colour cosmetics.
The deal positions the company to expand beyond retail into beauty production.
The partnership is reportedly set to acquire a 20% stake in C&C International, with the deal expected to be finalized in August this year.
The acquisition broadens the retailer’s Korean beauty portfolio by adding a manufacturing company to its lineup.
The deal involves purchasing ₩140 billion ( USD 101.77 million) in shares from C&C International insiders, including founder and CEO Bae Eun-chul, with the remainder to be raised through the issuance of new shares.
The company’s product portfolio includes lipsticks, lip glosses, eyeliners, eyeshadows, eyebrow products, and complexion-enhancing cosmetics such as foundations and powders.
In addition, C&C International provides colour cosmetics to a diverse global clientele, collaborating with over 100 brands, including Stylenanda, a subsidiary of L’Oréal, Amorepacific, and Clio Cosmetics.
The acquisition comes at a time when the colour cosmetics market is experiencing rapid expansion, driven by rising consumer demand, digital innovation, and sustainability trends.
According to a report by Precedence Research, the global colour cosmetics market is projected to reach USD 148.19 billion by 2034, expanding at a compound annual growth rate (CAGR) of 7.23%.
The Asia-Pacific region continues to lead the market, holding a 42.98% share in 2023, fueled by rising consumer demand and technological advancements in makeup products.
The region’s dominance is attributed to growing urbanization, increasing disposable income, and the influence of beauty trends across countries, including China, Japan, and South Korea.
Recently, Shinsegae International announced its acquisition of K-beauty brand Amuse Corp in a deal valued at USD 52.6 million.
Shinsegae’s acquisition aims to diversify its cosmetics portfolio, tapping into the affordable beauty segment while maintaining its presence in high-end skincare.
The company has ambitious plans to boost Amuse’s sales to KRW 200 billion (USD 145.36 million) by 2028, leveraging its retail network and digital platforms to accelerate growth.
Founded in 2018, Amuse has gained popularity among Gen Z consumers, particularly in North America, Japan, and Southeast Asia.
The brand’s Dew Tint, famously associated with K-pop star Jang Won-young, ranked first in Amazon’s lip stain category among hot new releases, solidifying its global appeal.
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