Clio acquires two Japanese cosmetics distributors

South Korea's Clio Cosmetics Co. announced on Friday that it has acquired a 100% stake in Japanese cosmetics distributor Doowon and cosmetics import agency Kiwami for 8.3 billion won ($6 million).

Doowon has been a vendor supplying Clio's color cosmetics brand to the Japanese market, starting with the Peripera brand in 2013.

Through this acquisition, Clio plans to establish its Japanese subsidiary in Japan to expand sales and improve profitability in the medium to long term by streamlining its business structure in Japan.

Clio sells its major brand products such as Clio, Peripera, and Goodal in over 15,000 stores nationwide, including drugstores and various shops, throughout Japan.

Write to Ji-Yoon Yang at yang@hankyung.com