Louis Vuitton invests US$25m for 20% in Taiwan’s Dr Wu Skincare

March 4, 2014 Leave a comment

Louis Vuitton invests US$25m in Taiwan’s Dr Wu Skincare

Staff Reporter

2014-03-01

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Dr Wu founder Wu Ying-jun, right, and his son CEO Wu Yi-jui. (File photo/China Times)

Louis Vuitton became a shareholder of Taiwan’s Dr Wu Skincare after the company spent US$25 million on 20% of the company’s shares, our sister paper Commercial Times reported on Feb. 27.

Dr Wu Skincare is planning to expand its business in China while the company is preparing to be listed, according to the paper.

“Louis Vuitton has its flagship store in Taiwan and this is not the first time for the company to invest here, either,” said Chang Ming-bin, executive secretary for the Ministry of Economic Affairs’ Investment Commission.

Wu Yi-jui, general manager of Dr Wu, said the company has been making a profit for the last 10 years consecutively and that expanding its business in China has become its priority, which the company hopes to accomplish before the end of 2014, when its Shanghai office should be ready to launch.

“Louis Vuitton’s investment will definitely help us make a big entrance as we are about to launch our initial public offering,” Wu said.

 

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