South Korea’s LG Household & Healthcare said Wednesday it was considering a purchase of global cosmetics giant Elizabeth Arden.
“We are considering acquiring two or three big cosmetics firms, including Elizabeth Arden,” a company spokeswoman told AFP.
“But nothing has been decided yet,” she said without elaborating further.
LG Household & Healthcare — an affiliate of South Korean conglomerate LG Group — has business portfolios including cosmetics, drinks and household items such as toothpastes and detergents.
Among the Seoul-based company’s lucrative stable are popular brands including The Face Shop and Innisfree.
Its sales nearly doubled to 4.3 trillion won ($4.1 billion) in 2013 from $2.2 trillion won in 2009, while net profit grew to 365.7 billion won from 158 billion won.
Shares in LG Household & Healthcare rose 3.13 percent on the Seoul stock market on Wednesday.
Elizabeth Arden — founded in the US in 1910 — posted sales of $1.3 billion and net profit of $40.7 million for the fiscal year that ended in June 2013.
The Nasdaq-listed firm is best known for its fragrance lines that account for nearly 80 percent of total sales.
Source: AFP