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Rajshree Empires has signed a joint venture agreement with five South Korean cosmetic companies through their arm PLK International.
Under this agreement, PLK has acquired 30 per cent stake in Rajshree Empires.
These five Korean companies are: PLK International, Coson Co Ltd, Outin Futures Corp, BCL Cosmetics Co Ltd, and Kell Cosmetics Co Ltd.
The partners said in a statement that the through these joint venture, these South Korean cosmetic companies will make their debut in the country.
This JV agreement is for initially marketing these brands and then in the long-term make the products in India. Rajshree Empires said a tripartite agreement was also signed by PLK with the UP Government and RE for setting up a manufacturing facility in India.
In a statement the company said PLK through its six associates of Korean cosmetic brands and its JV partner Rajshree Enterprises will invest about ₹100 crore in the next two years.
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