L’Oréal Group, the world‘s largest cosmetics company, will acquire Dr.G, a major South Korean beauty brand. It marks L’Oréal‘s first acquisition of a Korean beauty brand in six years, following its 2018 purchase of Stylenanda’s cosmetic brand 3CE.

L’Oréal announced on Monday that it signed an agreement with Swiss distributor Migros to acquire a full stake in Gowoonsesang Cosmetics, the parent company of Dr.G.

The transaction’s financial details were not disclosed.

Founded in 2003 by dermatologist Dr. Ahn Gun-young, Dr.G is a leading dermo-cosmetics brand under Gowoonsesang Cosmetics.

L’Oréal plans to integrate the brand into its Consumer Products Division to capitalize on the growing global demand for K-beauty products.

Alexis Perakis-Valat, President of L’Oréal’s Consumer Products Division, noted that “We have admired the success of Dr.G for years and look forward to bringing the best of Korean skincare to consumers worldwide.”

Dr. Ahn, founder of Gowoonsesang Cosmetics, expressed excitement about the acquisition, saying, “We are thrilled to join L’Oréal. Our mission has always been to deliver healthy, beautiful skin through advanced research.”

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