By  on November 30, 2016
Farouk Systems

American hair products purveyor Farouk Systems Inc. and South Korean skin-care powerhouse LG Household and Health Care Ltd. have partnered on a joint venture projected to generate $1 billion in retail sales in its initial year in operation.

Ownership of the joint venture, called LG Farouk Co., is split evenly between Farouk Systems and LG Household and Health Care. LG Farouk Co. will establish a manufacturing facility in South Korea to produce and spread Farouk Systems’ products across Asia, and Farouk Systems will be charged with bringing LG’s merchandise to salons in the U.S.

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