South Korea’s fourth-largest cosmetic maker, It’s Skin, has made a move to extend its international reach through a partnership with retail giant Dabur India.
It’s Skin has signed a memorandum of understanding with Dabur to sell 120 kinds of cosmetics in its New U beauty retail chain, stepping up its overseas bid beyond China, Japan and Southeast Asian markets.
Starting with 10 shops in New Delhi, the company plans to open 20 in the capital and the surrounding area this year.
It’s Skin is best known for its snail cream, Prestige Cream d’escargot, which went on the market in 2009. The company posted won 309.6 billion (US$255 million) in sales last year, up 28 per cent from the previous year. It started listing on the Seoul bourse in December.
Founded in 1884, Dabur India is India’s fourth-largest retailer, logging 78.1 billion rupees (US$1.2 billion) in sales last year. Its beauty chain New U has 70 outlets in 28 cities.