“Large companies have more money and better infrastructure, but the cosmetics business requires more than that," said Lee Jin-wook, founder of Have & Be Co. Ltd., whose most popular brand, Dr. Jart+, sells creams and face masks online and in retailers like Sephora. In 2015, Estée Lauder Cos. acquired a stake in Have & Be for an undisclosed sum.
“It’s an area for specialists,” Lee said.
This article was provided by Bloomberg News.