Taekwang Group Establishes SIL Cosmetics Division, Targeting the Korean and Global Markets
Taekwang Group has launched a new business initiative by creating the cosmetics brand “SIL.”
On the 13th, Taekwang Group announced the establishment of an independent cosmetics subsidiary, SIL, with the aim of independently developing and launching beauty brands. SIL is a wholly owned subsidiary of Taekwang Industrial. Kim Jin-suk, a new business specialist who previously worked at global consulting firm Kearney and Samsung Electronics, has been appointed as the company’s first CEO.
The new company is part of Taekwang Industrial’s ₩1.5 trillion new business investment plan. Taekwang Industrial plans to enter the cosmetics market with Aekyung Industrial Co., Ltd. (the acquisition is expected to be completed in February) and SIL as its two main pillars.
SIL plans to launch a premium skincare brand featuring patented ingredients in the first half of this year. The company will expand its product lineup in cooperation with Taekwang Group’s distribution and media affiliates. In addition, SIL plans to expand into overseas markets, including Japan and the United States.
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