09.08.21
LG Household & Healthcare has purchased a 56% stake in Boinca, a California-based vegan hair dye manufacturer, at $100 million.
The purchase is intended to boost LG’s overseas hair care business and strengthen its competitiveness in the premium hair care product market.
Boinca owns high-end hair color dye brand Arctic Fox, which is popular among young customers thanks to its successful social media marketing and its opposition to animal testing. Furthermore, the vegan, semi-permanent hair dye brand is Amazon’s best-seller in its category.
The purchase is intended to boost LG’s overseas hair care business and strengthen its competitiveness in the premium hair care product market.
Boinca owns high-end hair color dye brand Arctic Fox, which is popular among young customers thanks to its successful social media marketing and its opposition to animal testing. Furthermore, the vegan, semi-permanent hair dye brand is Amazon’s best-seller in its category.
