L’Oréal acquires Korean skincare brand Dr.G
The deal is expected to close in the next few months, pending regulatory approvals.
L’Oréal Groupe has signed an agreement to acquire Gowoonsesang Cosmetics Co., Ltd, the parent company of Korean skincare brand Dr.G.
Dr.G will join L’Oréal’s Consumer Products Division (CPD) to meet the growing global demand for K-Beauty and affordable skincare solutions.
Dr.G is known for its ingredient-focused products like the popular R.E.D Blemish Clear Soothing Cream. The brand also has a growing presence across Asia and globally, ranking amongst the top three mass-market and dermocosmetic skincare brands in South Korea.
“We have been following the brand and its success for many years and we look forward to accelerating its growth in South Korea and the rest of the world, staying true to our mission to democratise and premiumise beauty by bringing the best of Korean skincare to consumers everywhere,” said Alexis Perakis-Valat, global president of L’Oréal’s CPD.
“Our mission has always been to provide healthy and radiant skin through advanced research,” said Gun Young Ahn, founder of Dr.G. “We believe that becoming part of L’Oréal will serve as a significant turning point in the global realisation of our mission.”
Retail Asia
Related news
Deliveroo to be acquired by DoorDash in £2.9bn deal
Deliveroo is to be acquired by US rival DoorDash in…
Read more >Magnit Acquires Controlling Stake In Azbuka Vkusa
Russian retailer Magnit has acquired a controlling stake in premium…
Read more >Make-up and what is behind it
The decorative cosmetics segment is evolving quickly – this is…
Read more >Related news
GKI Analysis: Without EU funds, the domestic economy would just flounder
On May 1, Hungary marks the 21st anniversary of joining…
Read more >NGM: we always take action against unjustified price increases, inflation may decrease further in the coming months
The government is successfully fighting price increases. In April, inflation…
Read more >April inflation was higher than expected
In April, annual inflation was 4.2 percent, and prices rose…
Read more >