PARIS – L’Oréal is buying South Korean skincare model Dr. G from Migros, the Swiss retail group.
Monetary phrases of the deal introduced Monday weren’t disclosed.
L’Oréal will buy Dr. G from Migros’ subsidiary Gowoosesang Cosmetics Co. Ltd., which incorporates the Korean skincare model based by dermatologist Gun Younger Ahn in 2003. It’s primarily based in Seoul.
It marks the second time L’Oréal is shopping for a Korean magnificence model. In 2018, the world’s largest magnificence maker bought Stylenanda, which included the 3CE make-up vary.
South Korea has lengthy been a hotbed of cutting-edge magnificence, spawning international traits corresponding to BB Cream and cushion-based basis know-how beginning about 11 years in the past. There’s been a world resurgence of Okay-beauty of late, with shops corresponding to Senti Senti in New York and Miin in Paris targeted on merchandise from Korea. TikTok is additional serving to to develop the pattern exponentially, inflicting some merchandise, corresponding to Great thing about Joseon’s Reduction Solar: Rice + Probiotics SPF 50+, to go viral.
Dr. G will turn out to be a model inside L’Oréal’s Dermatological Magnificence Division. L’Oréal mentioned in an announcement launched Monday that the model “is positioned to fulfill the rising demand for Okay-beauty and scientifically developed, efficient but reasonably priced skincare options.”
L’Oréal’s headquarters.
Courtesy Picture
Dr. G has been amongst South Korea’s high skincare manufacturers for greater than a decade, and now has a broadening pan-Asian presence and development potential around the globe, in response to L’Oréal. Dr. G’s portfolio has ingredient-led merchandise with focused traces, corresponding to its bestselling R.E.D Blemish Clear Soothing Cream.
Dr. G takes an omnichannel method, with a presence In the important thing on-line and offline retailers throughout South Korea. There, Dr. G ranks among the many top-three mass-market and dermocosmetics skincare manufacturers.
“Created by a dermatologist and providing high-performing options appropriate for even essentially the most delicate skins, Dr. G completely enhances our current skincare portfolio,” mentioned Alexis Perakis-Valat, international president of L’Oréal’s Client Merchandise Division, within the assertion.
“We’ve been following the model and its success for a few years, and we sit up for accelerating its development in South Korea and the remainder of the world, staying true to our mission to democratize and premiumize magnificence by bringing one of the best of Korean skincare to shoppers all over the place,” he continued.
Samuel du Retail, president of L’Oréal Korea, underlined Dr. G is rooted in its founder’s imaginative and prescient that everybody deserves wholesome pores and skin.
“Having the Dr. G model and Gowoosesang expertise groups with us will additional strengthen L’Oréal’s engagement with the Korean magnificence ecosystem and permit us to develop the attain of Okay-beauty globally,” mentioned du Retail.