Amorepacific Group invests in clean beauty brand Milk Makeup

New York-based cosmetics and skin care firm Milk Makeup, which focuses on clean beauty, has secured investment from Seoul-based cosmetics firm Amorepacific Group.

The deal will make Amorepacific a minority shareholder in Milk Makeup.

The two parties have also formed a partnership, which is aimed at facilitating Milk Makeup’s foray into South Korea. Financial terms of the deal were not disclosed.

Amorepacific president Bae Dong-hyun said: “Through this partnership, Amorepacific will provide full support for its entrance into the Korean market and others in the future.”

A unit of culturally conscious company Milk Group, Milk Makeup offers complete vegan formulas that are cruelty-free and also devoid of paraben.

The company sells its offerings via Sephora in the US, Canada, Spain, Germany, Denmark, and Sweden as well as through Cult Beauty in the UK.

Its other minority shareholders include private equity investment firm Main Post Partners and growth equity fund Alliance Consumer Growth.

According to Milk Makeup chairman Scott Sassa, who spearheaded the multi-year process to execute the deal, a “shared belief in building brands designed to last for decades” played an integral role in the alliance.

Milk Makeup CEO and cofounder Mazdack Rassi said: “The South Korean beauty market is highly competitive and incredibly innovative, so we are thrilled to have Amorepacific’s help to ensure our success in this important beauty space.

“This strategic partnership will allow us to benefit from Amorepacific’s significant expertise and resources. And in true partnership, Milk Makeup will share the strategies that have made it one of the fasting growing color brands in the U.S.”

Earlier this year, Amorepacific collaborated with Sephora to launch its premium brand Laneige in Europe.