ITOCHU Announces Investment in Noin, Inc.
April 28, 2020
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today that it has agreed to acquire some shares issued by Noin, Inc. (headquartered in Shinjuku-ku, Tokyo; Ken Watabe, Representative Director; hereinafter “Noin”) in its capital increase through private placement. ITOCHU aims to create synergy with its brand business utilizing the NOIN cosmetics e-commerce platform operated by Noin.
With the mission of “providing excitement to everyone’s day,” Noin began operating its cosmetics e-commerce platform in October 2017. It has grown into the leading cosmetics e-commerce platform, with its NOIC app exceeding 2.5 million downloads. From this spring, Noin is expanding its business along three axes, its e-commerce business, its media business and its marketing business, and will begin providing a data marketing support plan and an “online sales support plan to support manufacturers by
ITOCHU is working to expand its e-commerce business and enter into new distribution channe utilizing the data is possesses accumulated from approximately 300,000 purchases. ls in its brand business as part of the reinvention of business, one of the basic policies of its Medium-Term Management Plan, Brand-new Deal 2020. ITOCHU reached an agreement with Noin because of the various synergies such as in the introduction of new brands and the expansion of licensing of existing brands, as well as in the e-commerce business and the data marketing business, that are expected as a result of the collaboration with Noin, given that the cosmetics industry has a strong relationship with the brand business.
Going forward, ITOCHU will support Noin in expanding its business and enhancing its corporate value by leveraging ITOCHU’s expertise and network in the brand business and accelerate the reinvention of the brand business by working on fusion with Nion’s broad knowledge in the cosmetics field.
The NOIN cosmetics e-commerce platform
The NOIN app