CNP Cosmetics, owned by LG Household & Health Care, on Monday said it has launched a new luxury brand named CNP Rx, joining Korea’s lucrative market for high-end cosmetics.
CNP Rx recently opened its first store inside the main Hyundai Department Store in Gangnam, Seoul, with plans to enter more department stores in the near future, LG H&H said.
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The newly opened CNP Rx store inside the main Hyundai Department Store in Gangnam (LG Household & Health Care) |
Unlike the original CNP Cosmetics brand -- whose products are available at drugstores and online shopping malls -- CNP Rx will be sold only at department stores and high-end retail channels, according to LG H&H.
The luxury brand was named by combining CNP with the slogan “Real Experience.” It is driven by a philosophy to enable users to “truly experience improvements to their skin,” the firm said.
CNP Rx offers 35 products developed by the firm’s dermatologists and experts under four skin care programs -- protection, management retainment and care. Prices range from 48,000 won ($42) to 180,000 won.
The brand will also offer the “Rx-ray” service -- CNP’s specialized skin examination technology -- at its department store outlets to help customers select the right products for their skin.
Meanwhile, LG Household & Health Care’s stock price on Korea’s main bourse KOSPI reached a record-high on Monday morning, surpassing the 1.07 million won mark for the first time.
The stock rally came as the LG affiliate recently posted its highest quarterly performance to date during the January-March period, thanks to its flourishing cosmetics business led by Whoo and SU:M37.
During the first quarter, LG H&H’s operating profit rose 30.9 percent on-year to 233.5 billion won while sales rose 16.7 percent on-year to 1.52 trillion won, according to the firm’s regulatory filing.
By Sohn Ji-young (
jys@heraldcorp.com)
