Wang Ye so happily agreed to Shiseido's private placement bill, which surprised Xu Jing, she originally thought that Wang Ye would not agree to such a harsh plan.

"Why did you agree to their conditions," Xu Jing asked in surprise.

Wang Ye closed the document in his hand, patted the folder lightly, raised his head and asked Xu Jing with a smile: "Why don't you agree?"

"But Shiseido doesn't give us the board seats, the right to speak, and the right to vote. Xu Jing argued.

"One seat on the board of directors is enough, what is the use of having a voice and voting, is there anyone on our current executive team who knows how to make cosmetics better than someone from Shiseido," Wang said.

Xu Jing was asked now, yes, Meigou.com's stake in Shiseido is just to seek wealth, not that she really wants to run the company herself.

From this point of view, the plan proposed by the Shiseido board of directors is not in line with the intention of Meigou.com

"Let's just do what we're good at, and leave those professional things to a professional team to do. I believe that Shiseido's existing management team is more professional than us in cosmetics research and development. So let's just sit back and wait for the dividends, hehe. Wang Ye said with a smile.

Wang Ye is self-aware, and he is not a person with a strong desire to control.

In this world, there are many people who are good enough and professional in many fields, and what Wang Ye wants to do is not to replace them, but to find them, and this is the idea of investing in their Shiseido, and Amorepacific's investment will be the same.

I can't just sit and collect money, so where can I still have the heart to snatch the management rights of other people's companies.

Amorepacific's situation is different from Shiseido's.

Shiseido's current market value is not high, and there is basically no water, but Amorepacific's $8 billion market value is too

To this end, Wang Ye has already instructed several directors of Meigou to help Amorepacific squeeze the water and return its market value to its true value.

On July 15, a piece of news broke in the Singapore media.

Etude hoe cosmetics have excessive heavy metals and may cause cancer

The Etude Hoe brand, Etude House, is a brand of Amorepacific

After this news was broadcast, it caused an uproar in Singapore, modern people are the most health-conscious, anything and "heavy metals exceeding" and "carcinogenic" are associated with such words, it is difficult not to attract people's attention.

Although this Etude Hoe brand is only a very niche brand, not many people have used it at all

Amorepacific immediately launched a crisis public relations campaign, promising that its products were free of heavy metals, and posting test reports from third-party testing agencies.

As a result, the next day, Singapore's official testing agency came out and slapped him in the face, making it clear that the chromium content in a variety of cosmetics of Etude Hoe exceeded the standard.

Subsequently, the Ministry of Commerce and Industry of Singapore ordered Amorepacific to remove all Etude Hoe products from the shelves and compensate all consumers for returns.

Amorepacific was not convinced, and although it had to give in, it set a lot of harsh conditions in the return compensation procedure.

For example, the product returned by the consumer must not have traces of use, the outer packaging shall not be removed, and the secondary sale shall not be affected, etc.

This is just a joke, who will not open the outer packaging when buying cosmetics, and for a while, public opinion has been overwhelming, and consumers have attacked it.

Just when the matter in Singapore has not subsided, the quality problems of Etude Hoes have also broken out in the Chinese market, European and American markets.

Amorepacific Cosmetics Co., Ltd.

It all started with an ordinary family kitchen 80 years ago.

Jung Yoon-jeong, who was carrying six children at the time, was forced to make ends meet and began producing camellia oil for hair care used by fashionable Korean women.

Ms. Chung buys the best camellia from vendors on the Korean Peninsula and spends hours in her kitchen squeezing the oil out. The first store was opened in Kaesong Village, which is now part of North Korea.

Her second son, Xu Chenghuan, learned the craft at a young age, riding his bicycle around collecting bottles and labels for 88 miles in a circle, and then concocting creams by his mother's side.

In 1945, Xu Chenghuan took over the family's business.

With an eye to the bright future, Seo initially named the company "Taepyeongyang", which means "Pacific". This stems from one of Seo's early ambitions to lead the company across the Pacific and gain a foothold overseas.

This is the humble origin of South Korean beauty giant Amorepacific Group.

The current head of the family is Xu Chenghuan's second son, Xu Qingpei, and his five siblings are not interested in inheriting the family business.

Under the leadership of Suh Kyung-bae, who has been at the helm of the company since 1997, Amorepacific has grown to become the world's 14th largest chemical company with 30 brands.

Over the years, the cosmetics company has remained true to its roots, always prioritizing natural ingredients.

In 1966, it pioneered the use of ginseng, a traditional Asian medicinal herb, as a basic ingredient in cosmetics. In 1979, it was the first in the industry to plant its own tea plantation, which later led to the company's first skincare line based entirely on green tea.

These early foundations are reflected in some of Amorepacific Group's most popular brands today, each of which is unique.

Sulwhasoo is a luxury brand made from Asian medicinal herbs, Dream Makeup, a brand that explores ingredients such as camellia, lotus and jasmine, and innisfree, an eco-friendly sister brand that sources most of its ingredients from the beloved South Korean island of Jeju.

And the initial rise of this company is also very interesting.

In the 60s, Amorepacific adopted a new type of marketing.

It has adopted a door-to-door marketing system, employing women to go door-to-door and sell products directly to consumers. Many of these women, known as "Amore Girls," had husbands who had lost their husbands in the war, but the commissions they earned from the jobs allowed them to pay for their children's education and daily expenses.

Because many of the family's families have received help from Amorepacific, the company has a very good reputation in Korea.

Seoul, Amorepacific's corporate headquarters.

"Hell, I don't think the whole world is targeting us," Xu Qingpei said angrily.

In the conference room, a group of company executives were silent, and no one dared to jump out at this time.

After this turmoil, although Etude Hoe is only an inconspicuous brand under the company, it now seems to be able to represent all the company's brands, and it has affected the sales of all the company's brands.

This year, Amorepacific's share price has just broken through its all-time high, with 4 million won or about 2.29 million yuan

The company's market capitalization has also been pushed to a high of $8 billion.

In the Korean stock market, this high-priced stock is called "emperor stock", and the stock price is also the second highest price in the history of the stock market, and SK Telecom once reached a sky-high price of 5 million won more than a decade ago.

The first half of this year was also the most energetic time for Amorepacific, with sales growth increasing year-on-year and month-on-month, and the company's market value continued to rise, and even the company's helmer, Chairman Seo Kyung-bae, had a net worth of one of the top 10 in Korea

But now, everything has changed, and since the report came out from Singapore, Amorepacific's share price has started to fall.

With the news of Europe, the United States and China, the stock price began to "dive"

In just a few days, from breaking through 4 million won, it has basically been "cut in half", that is, about 2 million won.

If things don't settle down quickly, it can be expected that not only will the stock price continue to decline, but the company's sales will also be greatly affected this year.

"Then the damn product does it have heavy metals exceeding the standard," Xu Qingpei asked the person in charge of the quality inspection department with a vicious star.

The round-faced fat man was wiping the beads of sweat on his forehead with a tissue, and his hands shook when he heard Xu Qingpei's question.

If there is such a quality problem, the biggest responsibility is their quality inspection department.

"This chromium is something that we can't add in the production process, and if there is, it's also contained in the raw materials. Moreover, the content of this heavy metal is extremely low, and no one would have made a special trip to test this thing in the past. He said with a sad face.

"So now, after what happened, have you been tested?" asked Xu Qingpei.

"After testing, 100 bottles were sampled, and 98 bottles were qualified, and only two bottles slightly exceeded the standard, but that would not have any major consequences at all, let alone cause cancer. The round-faced fat man had a face full of grievances.

Cosmetics, if carefully and comprehensively tested, especially what kind of makeup nail polish and the like, there must be many elements that exceed the standard, which is unhealthy.

But to say that any point exceeding the standard will cause cancer, it is absolutely alarmist.

However, the media is not wrong to say that, smoking also causes cancer, eating more fried foods can also cause cancer, and eating more pickles can also cause cancer

By extension, excessive heavy metals will of course cause cancer

Xu Qingpei sat down weakly and pinched the bridge of his nose with his thumb and forefinger, and he felt a little pain in his head.

It's someone messing with themselves

Otherwise, it would not have been possible to make such a big fuss.

It is said that if a certain product is unqualified, or a certain metal exceeds the standard, the most important thing is to notify the brand merchant to remove the product.

Where will it be like now, it will be directly poked out by the media, and then bring up public opinion, and then the official institutions will intervene.

More seriously, the European, American and Chinese markets have also followed

This time, if it is not handled properly, Amorepacific will be in a big situation.

Amorepacific has a good reputation in Korea, but who knows it in the world? If the reputation is stinky, then the company can only nest in the Korean market to develop, don't want to go out again.