These retailers see this as a long-term movement, this isn't a flash in the pan

10-year lease for a UK outlet in central London close to Tottenham Court Road after the success of a nearby fortnight-long pop-up during the festive season.

- Matt Peters Savills

The electronics giant LG is best known for its smart TVs and washer dryers, but the company's first product, launched in 1947, was a moisturiser called Lucky Cream. LG hopes to ride the boom in interest in all things Korean through the expansion of its beauty arm, LG Household & Health Care (LG H&H). It launched its K-beauty brand Belif in the UK at the start of May, initially at online retailers and two London branches of the retailer Glam Touch.

LG is also considering opening physical stores. Steven Jeong, the managing director of LG H&H UK, said: "While our initial strategy focuses on online channels, we believe that in-person experiences are an essential part of the skincare journey, especially when it comes to texture and personalised consultation."

The company would look to "establish an offline presence" from June, he added.