Expansion of L’Oréal’s Beauty Portfolio
L’Oréal has broadened its beauty portfolio with the acquisition of Dr.G, a prominent Korean skincare brand that is part of the Migros retail group based in Switzerland. The French cosmetics giant has formalized an agreement to buy Gowoonsesang Cosmetics Co., the parent company of Dr.G, and will incorporate it into its Consumer Products Division (CPD).
Excitement rippled through L’Oréal’s ranks, particularly from Alexis Perakis-Valat, the Global President of CPD. He pointed out the company’s enthusiasm about Dr.G, noting that L’Oréal has long been interested in the brand. Perakis-Valat expressed optimism that this acquisition will enhance Dr.G’s footprint not only in South Korea but also on the global stage. He stressed L’Oréal’s dedication to making quality beauty products accessible, particularly through the introduction of exceptional Korean skincare items to consumers worldwide.
Strategic Alignment with K-beauty Trends
This strategic move is in line with L’Oréal’s objective to leverage the surging interest in K-beauty and innovative skincare solutions that are grounded in science. In a related comment, Samuel du Retail, President of L’Oréal Korea, highlighted that adding Dr.G to their roster follows the successful acquisition of the 3CE brand. This expansion further positions L’Oréal to play a vital role in the global celebration of Korean beauty.
Dr.G was founded in 2003 by dermatologist Dr. Gun Young Ahn, who has always championed the goal of promoting skin health for everyone. The brand is particularly renowned for its R.E.D Blemish Clear Soothing Cream, a testament to its commitment to effective skincare.
Dr. Ahn’s Vision and Future Collaboration
Dr. Ahn remarked that his mission has consistently centered around achieving healthy, radiant skin through pioneering research. He sees joining forces with L’Oréal as a crucial step toward amplifying this mission on a worldwide scale. Collaborating with Gowoonsesang’s expert teams is expected to strengthen L’Oréal’s engagement in the Korean beauty market while also facilitating the international spread of K-beauty products.
Source: Cosmeticsbusiness