L’Oréal to acquire Korean skincare brand Dr. G
L’Oréal is to acquire Korean skincare brand Dr. G from Swiss retail group Migros.
The skincare and cosmetics giant will purchase Migros subsidiary Gowoonsesang Cosmetics Co, which includes the brand founded by dermatologist Dr. Gun Young Ahn in 2003.
With its headquarters in Seoul, Dr. G will become part of L’Oréal Groupe’s consumer products division as the company looks to meet rising demand for K-Beauty products.
Dr. G’s product portfolio includes ingredient-led skincare products such as its best-selling R.E.D Blemish Clear Soothing Cream.
Never Miss a Retail Update!Alexis Perakis-Valat, global president of L’Oréal’s consumer products division, said: “Created by a dermatologist and offering high-performing solutions suitable for even the most sensitive skins, Dr. G perfectly complements our existing skincare portfolio.
“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.”
Samuel du Retail, president of L’Oréal Korea, added: “Following the successful acquisition of 3CE, we are glad to welcome a second Korean brand into L’Oréal and contribute to bringing the best of Korean beauty to the world.
“Having Dr.G brand and Gowoonsesang talented teams with us will further strengthen L’Oréal engagement with the Korean beauty ecosystem and allow us to expand the reach of K-Beauty globally.”
The transaction is expected to complete in the next few months.
