South Korea’s Clio Cosmetics Co. has taken a significant step in expanding its footprint in the Japanese market by acquiring a 100% stake in the cosmetics distributor Doowon and the cosmetics import agency Kiwami for 8.3 billion won ($6 million). This acquisition was announced on Friday and marks a pivotal move in Clio’s strategy to enhance its market presence and profitability in Japan.
Doowon, a long-time vendor for Clio, has been instrumental in distributing Clio’s popular color cosmetics brand, Peripera, in Japan since 2013. The acquisition of Doowon, along with Kiwami, will allow Clio to establish a direct subsidiary in Japan. This move is aimed at expanding sales channels and improving the efficiency of its business operations in the region.
Clio, known for its leading cosmetic brands such as Clio, Peripera, and Goodal, currently boasts a distribution network that spans over 15,000 stores across Japan, including drugstores and various retail outlets. By integrating these new acquisitions, Clio plans to enhance its distribution capabilities and optimize its product offerings in the competitive Japanese cosmetics market.
The establishment of a Japanese subsidiary is expected to strengthen Clio’s control over marketing, sales, and distribution strategies, thereby improving profitability in the medium to long term. This strategic expansion underscores Clio’s commitment to consolidating its market position and catering more effectively to the diverse beauty needs of Japanese consumers.
