L’Oréal Gains Momentum with Acquisition of K-Beauty Brand Dr.G
L’Oréal Groupe made a significant announcement on December 23, 2024. The beauty conglomerate has signed an agreement with Swiss retail group Migros to acquire Gowoonsesang Cosmetics Co., Ltd. This acquisition includes the renowned Korean skincare brand Dr.G, which was established by dermatologist Dr. Gun Young Ahn in 2003.
Dr.G is set to join the ranks of L’Oréal’s Consumer Products Division. This marks the second Korean beauty brand to be included in the French cosmetics giant’s portfolio, following the 2018 acquisition of 3CE. Dr.G has consistently ranked among the top three mass market and dermocosmetic skincare brands in South Korea for over a decade. Its bestselling product is the R.E.D Blemish Clear Soothing Cream.
“Created by a dermatologist and offering high-performing solutions suitable for even the most sensitive skins, Dr.G perfectly complements our existing skincare portfolio,” said Alexis Perakis-Valat, Global President of L’Oréal’s Consumer Products Division. The acquisition not only reflects the rising global demand for K-Beauty products but also the need for scientifically developed, effective yet affordable skincare solutions. The transaction is expected to close in the coming months, subject to regulatory approvals.
Source: L’Oréal Finance