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The South Korean botulinum toxin company Medytox will launch a cosmetics brand and enter the market in 2020, the company said Friday.
Medytox said Friday that its subsidiary Medytox Korea had acquired a 58.3 percent stake in cosmetics distributor Highwayone, which holds sales rights in Korea and throughout Asia for some 100 foreign brands, including the Polish label Ziaja and the German label Kneipp.
Medytox said Friday that its subsidiary Medytox Korea had acquired a 58.3 percent stake in cosmetics distributor Highwayone, which holds sales rights in Korea and throughout Asia for some 100 foreign brands, including the Polish label Ziaja and the German label Kneipp.
The acquisition gives Medytox a distribution channel for cosmetics. Medytox Korea’s CEO Yang Gi-hyeok said he anticipates the speedy market penetration of Medytox’s new biotechnology-based cosmetics brand in 2020 through Highwayone’s sales network.
Highwayone’s online partners include GS Shop, Hmall.com, Shinsegae Mall, CJ O Shopping, Lotte Home Shopping, The Shilla Duty Free, Lotte Duty Free and Shinsegae Duty Free. Its offline partners include Aland, Boots, Hyundai Department Store, Olive Young and Lotte Department Store.
By Lim Jeong-yeo (kaylalim@heraldcorp.com)
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