Amazon will make a major investment in Japanese cosmetics retailer Istyle next month, the owner and operator of beauty website @Cosme Shopping.
Istyle will issue ¥2.5bn (US$18.7m) worth of convertible bonds, as well $86.3m in warrants to the global e-commerce goliath on 6 September 2022.
Amazon would hold a roughly 36% share in the company if it decides to turn those bonds and warrants into stock.
“We are very pleased to be able to collaborate with istyle,” said Amazon Japan G.K. President Jasper Chan.
“Leveraging the know-how we have accumulated over the years, we would like to bring about innovation in cosmetics and beauty-related shopping, and increase convenience and customer satisfaction through this collaboration."
A dedicated @Cosme Shopping page will also be created on Amazon Japan’s website, stocking a wide range of brands.
The full list of products has not yet been revealed, but will include beauty ranges developed by Istyle.
"I am very happy that we have entered into a business and capital alliance with Amazon in the United States,” said Tetsuro Yoshimatsu, Representative Director, President and CEO of Istyle.
“By collaborating with Amazon Japan, which provides an excellent shopping experience, we aim to further improve the satisfaction of consumers, while at the same time providing further value to cosmetics brands, and creating new encounters between consumers and brands.”
Istyle was founded in 1999 and in December that same year opened @cosme, a cosmetics review website.
The company would then launch @Cosme Shopping in 2002, its dedicated ecommerce platform for beauty products in Japan.
In July 2021, Istyle acquired a stake in Glowdayz, the operator of Glowpick, South Korea's largest cosmetics review site, turning it into a subsidiary.
Quotes have been translated into English from Japanese.
