“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”, says Samuel du Retail, president of L’Oréal Korea.nmann77 at Adobe Stock
L’Oréal Groupe is tapping into the affordable K-beauty boom by acquiring Gowoonsesang Cosmetics Co., Ltd., including its 21-year-old Korean skin care brand, Dr.G, which will be folded into the multinational giant’s consumer products division. Details of the transaction were not disclosed.
The Mibelle Group (under its Migros parent) acquired Gowoonsesang Cosmetics Co., Ltd. in 2018.
That same year, L’Oreal boosted its K-beauty presence with the acquisition of Nanda Co. Ltd., the parent of makeup brand 3CE.
Dr.G was founded by dermatologist Gun Young Ahn, M.D., Ph.D., and has reportedly grown a “pan-Asian presence and global growth potential,” per L’Oreal. Key SKUs include the R.E.D Blemish Clear Soothing Cream.
“We are delighted to welcome Dr.G into the L’Oréal Groupe family,” says Alexis Perakis-Valat, global president of L’Oréal’s consumer products division. “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 democratize and premiumize beauty by bringing the best of Korean skin care to consumers everywhere.”
“We are thrilled that Gowoonsesang Cosmetics is joining L’Oréal”, says Ahn. “Our mission has always been to provide healthy and radiant skin through advanced research. We believe that becoming part of L’Oréal will serve as a significant turning point in the global realization of our mission”.
“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”, says 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 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.”