CIC Lands Korean Lingerie Firm
CIC Holding Co. Inc. acquired MCORSET, an 8-year-old lingerie company based in Korea, in a stock-purchase transaction. MCORSET produces lingerie under the Lefee, Kiss Republic, Suane and Fashino brands, and sells to homeshopping broadcasting channels, mallbased retailers and department stores. According to MCORSET, the company had revenues of $17 million in 2006, up 35 percent from 2005 revenues of $12.6 million. Also formed in 1999, CIC Holding Co. is the owner of a premium children’s apparel company based in Korea, with accounts in retail apparel stores in Korea, China and Japan. The company’s U.S. operations are based in San Diego.
