[New Year's Message] Lee Jeong-ae, President of LG Household & Health Care: "Targeting MZ Generation in the US Market with Belif and CNP"

Rebalancing Focused on 'Billif·CNP' in the US Market
Introducing 'R&D Fast Track' to Respond to Trend Changes

On the 2nd, Lee Jung-ae, President of LG Household & Health Care, emphasized in her New Year's address, "Let us make this year one that proves LG Household & Health Care's strength through passion for developing the most competitive top-quality products and immersion in creating differentiated future value."

President Lee announced that the key business strategy for this year will focus on "global business restructuring (rebalancing)." In the Americas market, the company plans to strengthen products centered on young customers (Young Generation) by leading with the brands 'belif, CNP, The Face Shop' and concentrate on marketing and investment.

President Lee explained, "We will achieve a quantum jump in online channels centered on Amazon and expand the base in offline channels." Previously, LG Household & Health Care confirmed the possibility of success as The Face Shop's Migamsu line recorded a sales growth rate exceeding 150% on Amazon, the largest online shopping mall in North America last year, and CNP Lip Serum achieved its highest performance.

In Japan, the company will expand its online influence focusing on the well-known oral care and color cosmetics brands 'Hince, CNP.' In China, it plans to focus on growth based on profitability while solidifying the rebranding results of its flagship brand 'The History of Whoo.' In Southeast Asia and the EMEA (Europe, Middle East, and Africa) markets, the company plans to expand online and offline channels centered on brands tailored to local characteristics.

This year, LG Household & Health Care will also introduce the 'R&D Fast-track' system, enabling rapid progress from product planning to research and development (R&D) and product launch. This is to present products that match rapidly changing customer trends. President Lee said, "We will expand the product pool that responds to global trend changes and actively utilize open innovation to quickly and flexibly supplement the capabilities needed for business," adding, "Through innovation in the R&D process and strengthening external collaboration, we will be recognized by customers as a company that possesses the fastest capabilities compared to global competitors and the most reliable top-quality capabilities compared to indie brands."

President Lee also presented measures for digital-driven growth. He proposed ▲targeting domestic and international e-commerce markets ▲strengthening digital content planning and development capabilities ▲actively utilizing artificial intelligence (AI). He said, "We will actively use AI to intensively strengthen digital commerce and marketing capabilities," and "Through collaboration with external digital solution companies, we will develop convergence products to provide differentiated customer experiences."

Furthermore, he expressed intentions to actively pursue mergers and acquisitions (M&A). He stated, "We will pursue brand M&A based on MZ (Millennial + Z generation) and Alpha generation customers to drive growth," and "For businesses with insufficient future growth potential and profit contribution, we will strengthen efficiency to solidify the business foundation."

This content was produced with the assistance of AI translation services.