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Korean skincare brand Thefaceshop eyes Thai expansion

The heir to KCE Electronics Group has taken over the business of Thefaceshop in Thailand from a fashion company, hoping to take it among the top three South Korean skincare brands there in the next two years.

Vice-president Pitharn Ongkosit said he and his friends in the media and marketing fields have come together to buy TFS (Thailand) Co, part of LM Fashion Group, which has had the rights to operate Thefaceshop in Thailand since March.

TFS plans to open 10 stores in the rest of the year, bringing the number of Thefaceshop stores to 30. The company will increase the number of Thefaceshop outlets to reach 70 within 2016, aiming to become one of the top three Korean skincare brands in Thailand.

(Source: Bangkok Post)