TAIPEI (Taiwan News) — Sharp (Taiwan) Electronics Corporation, a unit of the Foxconn Telecom Group, announced Wednesday (July 1) that it is taking over cosmetics retailer Mirada in an attack on the NT$60 billion (US$2 billion) market.

An online flagship store is scheduled to open in October targeting 2 million members and consumers, CNA reported.

Over the past 35 years, Mirada has collected 1.45 million members, but recently, it has been in the middle of evolving from brick and mortar to an online presence, Sharp said. While it will continue to sell cosmetics and hygiene products, Mirada will also rely on the Japanese electronics group to source household appliances and become a service platform for Japanese lifestyle and fashion commerce.

Before the new Mirada online flagship store opens, members will also be able to sign up for benefits at Cocoro Life, another e-commerce platform already owned by Sharp's Taiwan arm.