South Korean beauty conglomerate Amorepacific has invested in American company Milk Group’s makeup and skincare division Milk Makeup.
Seoul-based Amorepacific joins Main Post Partners and Alliance Consumer Growth as minority shareholders in the beauty brand, forming a strategic partnership that will assist the brand as it enters the South Korean marketplace.
“The South Korean beauty market is highly competitive and incredibly innovative, so we are thrilled to have Amorepacific’s help to ensure our success in this important beauty space,” said Milk Makeup CEO and co-founder Mazdack Rassi. “This strategic partnership will allow us to benefit from Amorepacific’s significant expertise and resources. And in true partnership, Milk Makeup will share the strategies that have made it one of the fastest-growing color brands in the US.”
“We were impressed by Amorepacific’s track record of internally starting and growing beauty brands,” said Milk Makeup chairman Scott Sassa. “This shared belief in building brands designed to last for decades was central to establishing this relationship.”