L'Oréal acquires Korean skincare brand Dr.G from Swiss conglomerate Migros

L'Oréal Group announced on December 23 that it has signed an agreement with Swiss retail group Migros to acquire its subsidiary Gowoonsesang Cosmetics Co, Ltd, including Dr.G, a Korean skincare brand founded in 2003 by dermatologist Dr. Gun Young Ahn and headquartered in Seoul.

Dr.G will become part of L'Oréal Group's Consumer Products Division (CPD). The French beauty giant said it hopes to meet the growing global demand for Korean beauty products by developing scientific, effective and affordable skincare solutions.

According to L'Oréal Group, Dr.G has become one of the leading skincare brands in South Korea, with a growing pan-Asian business and great global growth potential. Its product portfolio includes ingredient-driven skincare, as well as targeted product lines such as the best-selling RED Blemish Clear Soothing Cream. With a diverse omnichannel sales portfolio across Korea’s most prominent online and offline retailers, Dr.G has consistently ranked among the top three mass-market and medical aesthetic skincare brands in Korea.

Alexis Perakis-Valat, Global President of L’Oréal Consumer Products, said: “We are very pleased to welcome Dr.G to the L’Oréal family. Developed by dermatologists, Dr.G offers highly effective solutions for the most sensitive skin and perfectly complements our existing skincare portfolio. We have been following the brand and its success for many years and we look forward to accelerating its growth in Korea and the rest of the world, staying true to our mission to bring the best of Korean skincare to consumers around the world, making beauty more accessible and premium.”

Dr. Gun Young Ahn, founder of Gowoonsesang Cosmetics and dermatologist, said: “We are delighted that Gowoonsesang Cosmetics will join L’Oréal. We believe that becoming part of L’Oréal will be an important turning point in achieving our mission globally.”

Samuel du Retail, President of L’Oréal Korea, said: “Following the successful acquisition of 3CE, we are delighted to welcome a second Korean brand to join L’Oréal and contribute to bringing the best of Korean beauty to the world. Dr.G is a renowned brand founded by a Korean dermatologist with the philosophy that everyone should have healthy skin. The addition of the Dr.G brand and the talented team at Gowoonsesang will further strengthen L’Oréal’s collaboration with the Korean beauty ecosystem and enable us to expand the impact of Korean beauty around the world.”

The transaction is expected to close in the coming months, subject to regulatory approval and other customary conditions.