Moon cosmetics, the maker of a range of makeup, nail polish and skin care products, is about to receive a $1.5 million investment from a private equity firm.
Moon is in talks with the investment firm to make the investment, according to a person familiar with the matter.
Moon’s deal with the private equity group was announced Tuesday.
Moon’s parent company, Anbang, is an investor in companies including Facebook, and it has been building up its consumer business, including its cosmetics, for years.
Moon has been the subject of a series of controversies, including a 2015 controversy in which employees were forced to wear masks in order to prevent a fire.
In a statement on Tuesday, Anbu said it is investing in Moon, and said that the funds will be used for “intellectual property and operations and support” for the company.
Moon announced plans last month to increase its shareholding to more than 60 percent from the current 30 percent.
The company is now valued at about $5 billion.