Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Trump’s Approval of AI Chip Sales to China Triggers Bipartisan National Security Concerns 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Nvidia Develops New Location-Verification Technology for AI Chips 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Amorepacific, a South Korean cosmetic manufacturer, announced on Tuesday, Sept. 20, that it would be selling a 60% stake in its Pacific Package beauty packaging firm to AUTAJON Group, a French company specializing in packaging and labels.
Amorepacific said that the deal is a strategic move to deepen the partnership between its packaging subsidiary and the French firm. Likewise, the sale is part of the plan to enhance the company’s ties with AUTAJON.
As per Yonhap News Agency, the Korean cosmetic giant did not disclose the details, including the financial terms of the sale deal. However, it said that it would be keeping the remaining 40% stake in Pacific Package, which makes and supplies its packaging and labeling materials for its cosmetic line.
Amorepacific believes that the agreement will definitely boost and advance its business cooperation with AUTAJON Group. In addition, this will provide a new growth push for Pacific Package since it is expecting to get more clients through its French partner. It also hopes to explore new business opportunities through one of the leading European packaging maker.
AUTAJON itself has an impressive list of clientele for its product packages and labels, such as Christian Dior, Chanel, and Chloe, high-end global fashion houses. In any case, Amorepacific is doing business more aggressively in an effort to seek new markets and tie-ups amid its sagging presence in China, which is its primary market.
Pulse News mentioned that Amorepacific’s Pacific Package is based in Cheonan, and it produces premium shopping bags and cosmetics packaging. From the purchase of raw materials to printing and laminating, the company does all the processes in its facility.
“This collaboration with AUTAJON will be an opportunity for PacificPackage to ensure the highest level of competitiveness in technology, manufacturing, quality, and overall logistics as well as lay the foundation to further expand into the global market,” Amorepacific said in a statement. “In addition, PacificPackage will be able to identify additional customers through AUTAJON, allowing the partnership to become a new growth engine for the sustainable growth of PacificPackage.”
Meanwhile, Amorepacific’s Pacific Package and AUTAJON have been doing business since 2015. They signed a memorandum of understanding (MOU) and have been maintaining close cooperation and this latest deal is only to further strengthen the partnership.
