Reports are circulating regarding the acquisition of a majority stake in the online fashion and beauty company
L’Oréal is rumoured to be the preferred bidder to acquire a 70% stake in South Korean fashion and beauty company Nanda.
According to the Korea Economic Daily, the French beauty giant could be about to part with 400bn won (US$375m) in exchange for the majority share.
However, L’Oréal told Cosmetics Business it had no comment to make at this time.
Nanda was founded in 2004 by Kim So Hee and is headquartered in Seoul with a presence across Asia in Singapore, Hong Kong, Japan and Thailand.
The brand’s cosmetics line, 3CE, includes products for face, eyes, cheeks, lips, body and nails, as well as fragrances.
Meanwhile Style Nanda is the company’s fashion brand business.
A number of international beauty conglomerates have invested in South Korean beauty companies of late.