L'Oréal Groupe acquires Gowoonsesang Cosmetics Co, Ltd, the South Korean subsidiary of Mibelle Group (Migros Group), which offers Dr.G, one of South Korea's leading dermocosmetics brands.
Dr.G will join L'Oréal Groupe's Consumer Products Division (DPGP) to respond to the growing success of K-Beauty with affordable quality products.
Based in Seoul, Dr.G has been one of South Korea's leading skincare brands for over a decade, with a growing presence in Asian markets and global growth potential. Its product portfolio includes skincare products developed from certified ingredients with clinically proven properties, with targeted ranges such as the best-selling R.E.D Blemish Clear soothing cream. Thanks to a diversified omnichannel distribution strategy with South Korea's leading online and offline retailers, Dr.G ranks among the top three consumer skincare and dermo-cosmetics brands.[1] in this country.
"We are delighted to welcome Dr.G to the L'Oréal family. Created by a dermatologist, Dr.G offers high-performance solutions for even the most sensitive skin, and perfectly complements our existing skincare portfolio, said Alexis Perakis-Valat, General Manager of L'Oréal Groupe's Consumer Products Division. We have been following the brand and its success for many years and look forward to accelerating its growth in South Korea and the rest of the world, true to our mission of democratizing and premiumizing beauty by bringing the best of Korean skincare to consumers worldwide."
"We are delighted that Gowoonsesang Cosmetics is joining L'Oréal, said Dr. Gun Young Ahn, M.D., Ph.D., dermatologist and founder of Gowoonsesang Cosmetics. Our mission has always been to make skin healthy and radiant, through advanced research. We believe that our integration into the L'Oréal Group will mark a decisive turning point in the realization of our mission on a global scale."
"After the successful acquisition of 3CE, we are delighted to welcome a second Korean brand to L'Oréal, and to help bring the best of Korean beauty to the world.said Samuel du Retail, President of L'Oréal Korea. Dr.G is a recognized brand, founded by a Korean dermatologist and driven by his vision that everyone deserves healthy skin. Having the Dr.G brand and Gowoonsesang's talented teams by our side will allow us to strengthen L'Oréal's commitment to the Korean beauty ecosystem and extend the reach of K-Beauty worldwide."
This acquisition is subject to the usual conditions precedent and should be finalized in the coming months.
At the beginning of February 2024, the Migros Group announced the sale of Mibelle Group as part of its refocusing on its core business. Negotiations for the sale of the remainder of Mibelle Group are still ongoing.
Photo taken from the L'Oréal LinkedIn account.
