Rumours are rife that L'Oréal is the preferred bidder to acquire a 70 per cent stake in South Korean fashion and beauty company, Nanda.
Cosmetics Business reports that while L'Oréal has made no comment, Korea Economic Daily wrote that the French beauty giant could be about to part with 400bn won (US$375m) in exchange for the majority share.
Nanda was founded in 2004 by Kim So Hee and is based 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. Style Nanda is the company’s fashion brand business and has an Instagram following of over 1 million.
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