Is Elizabeth Arden about to become a major global presence, despite recent weaker than expected sales? It may, if it decides to accept a deal with a South Korea powerhouse.

South Korea’s LG Household & Healthcare Ltd said it is considering a bid for the U.S. cosmetics firm, an acquisition that would instantly provide it with globally recognized luxury brands. It would be LG’s largest acquisition to date.

Elizabeth Arden, which has a market value of $845 million, has seen its sales hit by a much weaker-than-expected North American retail market as well as deep industry discounting in key European markets that have eroded profit margins. Its shares have fallen 20 percent so far this year.

Elizabeth Arden offers an impressive array of cosmetics, skincare and fragrances, including namesake products and brands including Taylor Swift, Justin Bieber, Elizabeth Taylor, Juicy Couture, Britney Spears and many more.

LG Household, keen to expand its product lines and reach, has completed 12 acquisitions since 2007, though the biggest of these has been a relatively small $375 million purchase of a local retailer.

Four of its five latest deals were overseas acquisitions, including Japanese cosmetics firm Everlife and Canadian retailer Fruits & Passion.

“LG Household has grown so far based on M&A. We are looking at several potential deals at the moment for the same reasons, and Elizabeth Arden is one potential option,” said a company spokesman, responding to a report in the Maeil Business Newspaper about the potential bid.

“We are considering both local and overseas deals,” he added.

There has been no comment from Elizabeth Arden.