South Korea-based skincare and cosmetics manufacturer and retailer The Face Shop has sold its Thai business.

The Thai operation is now owned by three executives Pitharn Ongkosit, Thana Thianatchariya and Mahithorn Pongsarat.

Ongkosit says they decided to buy The Face Shop due to the strong demand for South Korean beauty products in Thailand. The popularity of the brand in Thailand also contributed to the decision.

Following the acquisition, Ongkosit and his partners plan to expand the The Face Shop stores to 30 by the end of the year and to 70 by 2016.

“Moreover, we plan a major renovation of our stores to make them look more modern and welcoming. The first newly renovated The Face Shop store will be opened at Central Salaya department store on August 12,” adds Thianatchariya.

The new owners also plan to launch a full-service e-commerce platform to enable customers access products online.