In 2011 Cheil acquired the Italian exotic leather brand Colombo via della Spiga.

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That was the challenge that Samsung posed to Lars Bastholm, chief creative officer at Cheil USA. What to do?

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Samsung Chairman Lee Kun-Hee's second daughter, Lee Seo-Hyun, is president of Cheil Industries, which started out in 1954 as a textile manufacturer and later expanded into chemicals and the fashion business.

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For instance, net profits of Cheil Jedang, a food and beverage company, last year jumped tenfold, to 106 billion won, and in the first half of this year by 57%, to 94 billion won.

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Before going public in 2014 Cheil merged with the Lee family's de facto holding company, Samsung Everland, and another affiliate, Samsung SDI, to create a leading producer of energy-storage solutions, including batteries for autos and consumer electronics, as well as specialty materials used in the manufacture of TVs, semiconductors and smartphones.

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