The business has acquired Dr.G’s parent company Gowoonsesang Cosmetics Co, Ltd from the Swiss retail group, Migros. It announced that the brand will join its Consumer Products Division and is poised for international expansion.
Doctor-backed Korean skin care brand Dr.G was founded by dermatologist Dr Gun Young Ahn in 2003 and is currently headquartered in Seoul.
For over a decade. Dr.G has been one of South Korea’s leading skin care brands and it has a growing presence across Asia, as well as internationally.
According to L’Oréal Groupe, it has a “diversified omni-channel sales mix across the most prominent online and offline retailers in South Korea.”
It also said that Dr.G “consistently ranks among the top three mass market and dermo-cosmetic skin care brands in the country.”
The brand’s product portfolio focuses on ingredient-led skin care with targeted product lines, which includes its best-seller R.E.D Blemish Clear Soothing Cream.
L’Oréal Group said that it’s “positioned to meet the rising demand for K-Beauty and scientifically developed, effective yet affordable skin care solutions.”
“Following the brand for many years”
Global President of L’Oréal’s Consumer Products Division Alexis Perakis-Valat believed that the new acquisition “perfectly complements” the division’s existing skin care 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 skin care to consumers everywhere,” she stated.
Meanwhile founder Dr Gun Young Ahn, M.D., Ph.D. Dermatologist believed that becoming part of L’Oréal “will serve as a significant turning point in the global realisation of our mission.”
The transaction is expected to be completed in the next few months and L’Oréal hopes that the move will “further strengthen L’Oréal engagement with the Korean beauty ecosystem and allow us to expand the reach of K-beauty globally.”
