Farouk Systems, Inc., recently announced a joint venture with LG Household and Health Care, Ltd., a South Korean multinational company headquartered in Yeouido-dong, Seoul, and a member of the LG Group, employing over 200,000 people working in 130 countries.
This joint venture resulted in the formation of a co-owned South Korean corporation named LG Farouk Co. which will establish a manufacturing facility in Korea.
"Together, we will be able to create and manufacture a whole new future of technology for the beauty industry,” Founder and CEO of Farouk Systems, Farouk Shami says.
MODERN reported on this newly-formed corporation last month and, this month, we asked Shami to go into more detail about his latest entrepreneurial endeavor.
MS: What motivated you to create this joint venture with LG Household and Health Care, Ltd.?
FS: We are always striving to offer our industry the latest advancements possible. The LG partnership will provide an opportunity for us to share our findings, create new products and tools while opening new avenues of distribution.
MS: What business do you currently do in Asia and how will this new venture help you expand your distribution and reach?
FS: Farouk Systems is in over 100 countries. Part of this distribution does include Asia. The important factor here is that we will be utilizing each other’s sources to broaden exposure of our brands.
MS: You have always focused on creating products that will help the hairdresser be more successful. With this new venture, what do you think you will be able to provide the hairdresser?
FS: I feel the possibilities are endless. The history of Farouk Systems has clearly shown the hairdresser that we are committed to them, their safety and the future of our environment. As we were the first to introduce NASA with Nano Technology in order to create healthier and safer tools, now, it is time to be the first in bringing the next phase of advanced technology to our fellow hairdresser. My dedication to them and our industry will not stop at 25 patents but instead will grow and continuously improve.
MS: Is there new technology you are working with/experimenting with that you would like to share with us?
FS: Right now, we are at the beginning stages. It takes time and testing before we can make any formal announcements.
MS: What are the LG skincare brands that you will distribute? Will you also be offering education around the brands and, if so, will that mean hiring new education team members?
FS: We will be distributing LG Household and Health Care’s skin care brands through our worldwide distribution channels in the professional salon industry. The lines will include existing products with an expansion plan to include anti-aging and hydrating skin care as well as technologically advanced devices. Our plan is to educate our existing team members and if need be, we will expand the hiring process to include skin care professionals.
MS: We just profiled the Farouk International Team of educators. You are truly a global company. What is the next frontier? Is there an area where you will explore, next?
FS: Farouk Systems, Inc. was just awarded certification to the European Federation for Cosmetic Ingredients’ Good Manufacturing Practice Standard ISO 9001:2008 (“EFfCI GMP”) and a separate certification to the ISO 22716 GMP Standard, each of our Houston facilities. These certifications confirm Farouk Systems’ continued adherence to the highest level of quality and safety in the production of cosmetics products and its rigorous approach to quality assurance. Our customers can be assured of consistent, high quality, and industry-leading cosmetic products.
Also, we are constantly researching and traveling the globe to secure ideas and trends for new products and tools. This is and will always be my main priority by tapping into every resource in order to capture or to make improvements. Our new president, Lisa Marie Garcia, will be instrumental in helping to accomplish all this.
Originally posted on Modern Salon