GigaMedia, an online games and computing services company based in Taiwan, has acquired a 70% equity interest in beauty e-commerce company Strawberry Cosmetics for $93.1m.
It is hoped the transaction will expose GigaMedia to a broader business portfolio in the internet and technology sector, allowing it to tap into the lucrative beauty e-commerce market.
Strawberry Cosmetics, which is present online as strawberrynet.com, has a customer base of over three million worldwide. GigaMedia aims to build its connections in various Asian countries through the transaction, namely China, Japan and South Korea.
Strawberrynet.com sells more than 700 brands and has over 30,000 stock keeping units. Brands listed on the website include: Benefit, Bourjois, Avene, Fudge, Orico London, Priori, Roger & Gallet and Yves Saint Laurent, among others.