[Asia Economy Reporter Seungjin Lee] LG Household & Health Care announced on the 1st that it has paid 50% of the monthly rent for cosmetics franchise store owners as difficulties continued for over a year due to COVID-19. This is the third time following two previous rent support initiatives conducted in March and July of last year with the same content.
The cosmetics franchise stores operated by LG Household & Health Care include 460 Nature Collection and The Face Shop stores, which have experienced a decline in sales as the COVID-19 situation has continued for over a year from last year into this year.
Vice Chairman Cha Seok-yong stated, “As the spread of COVID-19 has not slowed down and the real economy continues to be impacted, we decided to support the rent again this year to ease the burden on franchise store owners facing a difficult business environment.”
Kim Hak-young, representative of the Franchise Association operating Nature Collection, said, “We are grateful for the continued support in sharing the difficulties of franchise stores following the two rent supports last year,” adding, “The headquarters’ support is a great comfort like a timely rain amid ongoing crises.”
Meanwhile, LG Household & Health Care is operating effective win-win programs, such as reorganizing the direct online malls of Nature Collection and The Face Shop into an integrated platform where franchise stores can generate sales and profits. Last year, The Face Shop received the highest grade in the franchise sector of the Win-Win Growth Index.
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