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Missha cosmetic stores across Korea remodel to NUNC multi-brand shop - Pulse News

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Missha cosmetic stores across Korea remodel to NUNC multi-brand shop - Pulse News Posted: 13 Jun 2019 07:30 PM PDT 이미지 확대 Korea's budget cosmetics brand Missha has rebranded its retail outlets NUNC to turn them into multi-brand shops to bolster sales. According to cosmetics industry on Thursday, cosmetics maker Able C&C and its owner private equity fund IMM Private Equity have decided to remodel one-brand cosmetics shop Missha as multi-brand cosmetics store under new name NUNC. They will start the transformation project by remodeling directly-managed outlets first and allow franchisees to decide on joining the shift. Missha as Able C&C's sole cosmetics label will stay unchanged. The cosmetics maker opened its first Missha store in 2000 and has grown as one of best-selling street beauty shop names. In 2004, sales topped 100 billion won ($84.5 million) and the company joined the country's secondary bourse Kosdaq in February 2005. Currently, Able C&C is listed on the main Kospi after moving in September 2011. Business went down as shoppers increasingly turned to online platforms for beauty purchases. The company incurred an operating loss of 18.9 billion won last year compared with 11.2 billion operating profit in 207 amid a sharp drop in the number of Chinese visitors to Korea due to Beijing's retaliatory measures against Seoul's deployment of U.S. missile defense system THAAD. To revitalize the business, IMM Private Equity, which acquired Able C&C in April 2017 for 327.4 billion won in April 2017, has made aggressive investments including opening Missha mega store. By Lee Yoon-jae and Cho Jeehyun [ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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