L'Oréal acquires Korean skincare brand Dr.G

L'Oréal has signed an agreement with Swiss retail group Migros to acquire its subsidiary Gowoonsesang Cosmetics, including Korean skincare brand Dr.G.

Following the acquisition, Dr.G will become part of the company's consumer products division and is positioned to "meet the rising demand" for K-beauty and scientifically developed, effective yet affordable skincare solutions.

Alexis Perakis-Valat, Global President of L'Oréal's Consumer Products Division, said: "We are delighted to welcome Dr.G into the L'Oréal Groupe family.

"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 for many years and we look forward to accelerating its growth in South Korea and globally, staying true to our mission to democratise and premiumise beauty by bringing the best of Korean skincare to consumers everywhere."

Founded by dermatologist Dr Gun Young Ahn in 2003, Dr.G has a growing pan-Asian presence and global growth potential. Its product portfolio includes ingredient-led skincare with targeted product lines, such as its R.E.D Blemish Clear Soothing Cream.

With a diversified omnichannel sales mix across prominent online and offline retailers in South Korea, Dr.G ranks among the top three mass market and dermocosmetic skincare brands in the country.

Dr Gun Young Ahn, founder of Dr.G and Gowoonsesang Cosmetic, said: "Our mission has always been to provide healthy and radiant skin through advanced research. 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 after regulatory approvals and other customary conditions.