L’Oréal Groupe announced that it has signed an agreement with Swiss retail group Migros to acquire its subsidiary Gowoonsesang Cosmetics Co, Ltd, including Dr.G, the Korean skincare brand founded by dermatologist Dr. Gun Young Ahn in 2003 and based in Seoul. And Dr.G will become part of L’Oréal Groupe’s Consumer Products Division (CPD), positioned to meet the rising demand for K-Beauty and scientifically developed, effective, affordable skincare solutions.
Dr.G was one of South Korea’s leading skincare brands, with a growing pan-Asian presence and global growth potential for over ten years. And its product portfolio includes ingredient-led skincare with targeted product lines such as the best-selling R.E.D Blemish Clear Soothing Cream. With a diversified omni-channel sales mix across the most prominent online and offline retailers in South Korea, Dr.G consistently ranks among the top three mass market and dermocosmetic skincare brands in the country.
The deal is expected to be completed in the next few months after regulatory approvals and other customary conditions.
KEY QUOTES:
“We are delighted to welcome Dr.G into the L’Oréal Groupefamily. 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 and its success for many years and we look forward to accelerating its growth in South Korea and the rest of the world, staying true to our mission to democratize and premiumize beauty by bringing the best of Korean skincare to consumers everywhere.”
- Alexis Perakis-Valat, Global President of L’Oréal’s Consumer Products Division
“We are thrilled that Gowoonsesang Cosmetics is joining L’Oréal. Our mission has always been to provide healthy and radiant skin through advanced research. We believe that becoming part of L’Oréal will serve as a significant turning point in the global realization of our mission.”
- Dr. Gun Young Ahn, M.D., Ph.D. Dermatologist, Founder of Gowoonsesang Cosmetic
“Following the successful acquisition of 3CE, we are glad to welcome a second Korean brand into L’Oréal and contribute to bringing the best of Korean beauty to the world. Dr.G is a well-known brand founded by a Korean dermatologist, rooted in his vision that everyone deserves healthy skin. Having Dr.G brand and Gowoonsesang talented teams with us will further strengthen L’Oréal engagement with the Korean beauty ecosystem and allow us to expand the reach of K-Beauty globally.”
- Samuel du Retail, President of L’Oréal Korea
