Nanda sells shares to L’Oreal
In this article (5)
Korean fashion and cosmetics company Nanda has chosen L’Oreal as the preferred bidder for a 70 per cent stake, with the balance of shares staying in the hands of Nanda founder Kim So-hee.
The French cosmetics giant is reportedly paying KRW400 billion (US$375 million) for the deal with the hopes of strengthening its presence in the Asian cosmetics market, especially China.
Nanda late last year decided to sell the stake so it could expand further internationally.
Founded in 2005 as an online retailer, Nanda now has physical stores in Korea, Hong Kong, Indonesia, Thailand and Tokyo with its clothing line StyleNanda and cosmetics line 3CE.
Questions & Answers
Q.What percentage of Nanda is L’Oreal acquiring?
What percentage of Nanda is L’Oreal acquiring?
L’Oreal is acquiring a 70 per cent stake in Nanda. The remaining balance of shares will stay with Nanda's founder, Kim So-hee.
Q.How much is L’Oreal paying for the stake in Nanda?
How much is L’Oreal paying for the stake in Nanda?
L’Oreal is reportedly paying KRW400 billion, which is equivalent to US$375 million, for the acquisition of the 70 per cent stake.
Q.Why did Nanda decide to sell a stake in the company?
Why did Nanda decide to sell a stake in the company?
Nanda decided to sell the stake late last year with the aim of expanding further internationally. This move is expected to support their global growth.
Q.Where does Nanda currently have physical stores?
Where does Nanda currently have physical stores?
Nanda currently operates physical stores in several locations, including Korea, Hong Kong, Indonesia, Thailand, and Tokyo.
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