French cosmetics giant L'Oreal said Thursday it has completed the acquisition of one of South Korea's leading online retailers amid a rise in the global popularity of K-pop and Korean beauty items.
Last month, L'Oreal announced it will wholly purchase the makeup and fashion company Nanda Co., marking the French firm's first takeover of a Korean firm. The transaction price was not disclosed.
"After obtaining the necessary authorizations from the relevant authorities, L'Oreal has finalized the acquisition of the Korean lifestyle company Nanda," the company said in a statement.
This undated photo shows Stylenanda`s sign at its flagship store in Seoul. (Yonhap)
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