Shinsegae Inter Acquires Swiss Luxury Cosmetics Brand 'Swiss Perfection'

[Asia Economy Reporter Yujin Cho] Shinsegae International announced on the 14th that it has signed a contract to acquire 100% of the shares of the Swiss cosmetics brand 'Swiss Perfection.'

This is the first time a domestic company has acquired an overseas luxury skincare brand.

Through this acquisition, Shinsegae International has secured unparalleled competitiveness in the premium skincare market, enhancing global recognition and establishing a foothold for overseas expansion.

Shinsegae International plans to officially start the Swiss Perfection business early next year once the acquisition process is completed.

Swiss Perfection, launched in 1998, is a premium skincare brand known for producing all its products based on Swiss tradition and technology as '100% Swiss Made.'

It offers services and products through spas and private clinics in luxury hotels and yachts in about 20 countries across Europe, Asia, and the Middle East by developing cutting-edge anti-aging solutions. The prices of its main products, serums and creams, range from 500,000 to 1,000,000 KRW.

The core technology of Swiss Perfection is a plant-based cell regeneration complex called ‘Cellular Active Irisa,’ extracted from the iris root. Through this acquisition, Shinsegae International has also secured the original technology for manufacturing this ingredient.

Shinsegae International plans to aggressively target the global market with Swiss Perfection, following the success of global beauty giants that expanded their businesses by acquiring European luxury spa brands.

Currently operating as a business-to-business (B2B) model, Swiss Perfection will be introduced to major domestic department stores and duty-free shops to expand into the global retail market (B2C). The company also plans to enter China within three years and aggressively grow the business. The company stated, "The luxury cosmetics market in China is growing faster than the mass cosmetics market, so high growth of Swiss Perfection is expected."

Strengthening the business foundation with Swiss Perfection’s global network will facilitate the overseas expansion of in-house brands such as Vidivici and Yeonjak in the future. This acquisition is a key to growing into a world-class beauty company.

Lee Gil-han, head of the Cosmetics Division at Shinsegae International, said, “The acquisition of Swiss Perfection will be the foundation for Shinsegae International to leap forward as a global beauty house,” adding, “We will actively consider acquiring domestic and international brands with high growth potential and strengthen investments in brands.”