L’Oréal has acquired Korean skin care brand Dr.G from Swiss retail group Migros.
The French beauty giant signed an agreement with Migros to acquire its subsidiary Gowoonsesang Cosmetics Co, which includes Dr.G.
The Seoul-based business will become part of L'Oréal Groupe’s Consumer Products Division (CPD).
“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 skin care to consumers everywhere,” said Alexis Perakis-Valat, Global President of L'Oréal CPD.
L'Oréal said the acquisition also positions the business to meet the “rising demand" for k-beauty and science-focused skin care solutions.
“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,” added Samuel du Retail, President of L'Oréal Korea.
“Dr.G is a well-known brand founded by a Korean dermatologist, rooted in his vision that everyone deserves healthy skin.
“Having the Dr.G brand and Gowoonsesang’s 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.”
Dr.G was founded by dermatologist Dr Gun Young Ahn in 2003 and its hero products include the R.E.D Blemish Clear Soothing Cream.
“Our mission has always been to provide healthy and radiant skin through advanced research,” added Gowoonsesang founder Ahn.
“We believe that becoming part of L'Oréal will serve as a significant turning point in the global realisation of our mission."