Having already integrated a first K-Beauty name in 2018, the global Number One in the sector is absorbing a second skincare brand established in the Land of the Morning Calm.
L’Oréal is betting on Korean K-Beauty.
After acquiring the 3CE brand from the Land of the Morning Calm in 2018, the world’s Number One beauty company announced on December 23 that it had signed an agreement to acquire its subsidiary Gowoonsesang Cosmetics Co, Ltd, including the Dr. G skincare brand, from Mibelle, a division of the Swiss retail group Migros.
Founded in 2003 by Seoul-baseddermatologist Dr. Gun Young Ahn, “Dr.G will join L’Oréal Groupe’s Consumer Products Division (DPGP) in order to respond to the growing success of K-Beauty worldwide and develop its offer with effective, science-based, yet accessible skincare products,” announced L’Oréal in a press release on December 23.
In the top three of Korean skincare brands
The acquisition of what is described as “one of the top three consumer skincare and dermo-cosmetics brands in South Korea”, subject to the usual conditions precedent, is expected to be finalized in the coming months.
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Featured Photo: © Dr. G
