Farouk Systems Forms New Venture with South Korean Corporation
Farouk Systems, Inc., announces a joint venture with LG Household and Health Care, Ltd. This joint venture resulted in the formation of a co-owned South Korean corporation named LG Farouk Co. LG Farouk Co. will bring advancements to the beauty industry, establishing a manufacturing facility in Korea to better serve distribution channels in Asia. Each company will combine their expertise in technology and product formulations to deliver new product concepts.
Farouk Systems will also distribute LG Household and Health Care’s skin care brands through its worldwide distribution channels in the professional salon industry. The lines will include existing products with an expansion plan to include antiaging and hydrating skin care as well as technologically advanced devices.
Farouk Systems, Inc. is a Houston-based company, known for manufacturing high-quality professional hair care brands SunGlitz, CHI, and BioSilk. The company was founded in 1986 by Dr. Farouk Shami, a hairdresser and owner of 25 patents.
“This union will not only provide a new form of science from LG but a fresher approach combining art and innovation that Farouk Systems is famous for," Shami says. "Together, we will be able to create and manufacture a whole new future of technology for the beauty industry.”
LG Electronics was founded as GoldStar (Hangul:금성) and produced South Korea's first radios, TVs, refrigerators, washing machines, and air conditioners. LG Household and Health Care, Ltd. today is 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.
Originally posted on Modern Salon.