Missha’s owner company Able C&C has been sold to an investment company. The founding owner Suh Yeong Pil sold most of his remaining shares, changing ownership to Venus One.
Although I’ve been critical of Missha and Able C&C’s business approach in many ways, in truth I’ve always had a soft spot for Missha. The release of their 3300 won cosmetic products have revolutionized K-Beauty and the Asian beauty market. Missha has been a long time pioneer in the market, from affordable cosmetics to luxury-brand dupes. They were the ones that have first released SK2 Essence cheapies, however the flood of similar products seem to have buried them. Unable to identify itself as anything, carrying the burden of its “cheap cosmetics” stigma from earlier days, Missha has grown to become neither this or that. Only the few that appreciate its quality continued to use it, however it wasn’t appealing enough for those looking to try something new.
If anything, I’ll always remember Missha to be the company that really took care of its customers. Even when the dictatorship of the company was obvious with product lines designed without female consumers in mind, they were a corporation that tried to provide affordable skincare. Their loyalty program was one of the greatest in the industry, I very much enjoyed going to their concerts, lunches, dinners. It’s been a great experience being part of the Missha community, I’ve met many friends that I keep in touch with till this day, who are equally enthused about Missha. It’s been great to be surrounded by people that love the brand as much as you do, sharing knowledge and opinion on the various products, letting everyone know when there’s a sale that goes on! Although it wasn’t well known, I personally thought that some of Missha’s product formulations were quite unique. They actively tried out new components that aren’t widely used in skincare, and many of them worked great. It truly saddens me to think that all of this may very well come to an end. I’m sure change is inevitable, but I hope the new owner company will continue on the legacy of great customer service and maintain the high quality of its products. It would be a shame to see the Missha group turn into every other cosmetics company.
Here’s a news article on the sale of Able C&C, however it’s in Korean!