Shiseido strengthens prestige portfolio with acquisition of Dr. Dennis Gross Skincare

Japanese beauty group Shiseido is adding Dr. Dennis Gross Skincare to its global portfolio, becoming the latest group to further its investment in the prestige beauty division. 

The acquisition by Shiseido Americas Corporation, a Shiseido Company subsidiary, is expected to drive further growth.

It will expand the company's existing prestige skincare portfolio, which includes Shiseido, Clé de Peau Beauté and Drunk Elephant - adding another "highly complementary brand" to its mix.

The move comes as Shiseido expects to see a growing interest in health and beauty as consumers increase their awareness of skin health.

"As a derma cosmetics, doctor-led brand Dr. Dennis Gross Skincare strengthens our position in a rapidly growing skincare segment," reads a statement from Shiseido Company.

Launched in 2000, Dr. Dennis Gross Skincare is a dermatologist-led skincare brand founded by former skin cancer researcher and practicing dermatologist Dr. Dennis Gross alongside his wife Carrie.

The US-based brand aims to "make a difference in the lives of all people everywhere by helping them have healthier skin".

It tackles common complexion concerns with a dedicated range of formulas and tools. In the UK, the brand is available at Harrods, Cult Beauty, Lookfantastic, Sephora and Selfridges, amongst others.

The move follows the success of prestige beauty at a number of global beauty groups, including a recent boost in sales at Coty thanks to its prestige division reporting "strong" momentum.

It is also one of the fastest-growing business areas at Unilever.

Other groups such as Procter & Gamble and Beiersdorf are also among the firms investing in prestige beauty, with the previous acquisitions of Tula Skincare and Chantecaille, respectively.