L'Oréal Group announced the signing of an agreement with Swiss retail giant Migros for the acquisition of its subsidiary Gowoonsesang Cosmetics Co., Ltd., which includes the well-known Korean skincare brand Dr.G. Founded by Dr. Gun Young Ahn in 2003 and based in Seoul, Dr.G will now join L'Oréal Group’s Consumer Products Division (CPD), capitalizing on the growing demand for K-Beauty and effective, dermatologist-formulated skincare that is both affordable and scientifically advanced.
Dr.G has been a dominant name in the South Korean skincare market for over a decade and continues to expand its reach across Asia with significant potential for international growth. The brand’s product range includes skincare designed around key ingredients, with standout products such as the R.E.D Blemish Clear Soothing Cream. With a diverse sales approach, leveraging both online and offline channels in South Korea’s major retail spaces, Dr.G is consistently ranked among the top three brands in the mass market and dermocosmetic skincare categories.
“We are thrilled to welcome Dr.G into the L'Oréal family. As a brand created by a dermatologist, offering high-performance solutions even for the most sensitive skin, Dr.G perfectly complements our existing skincare range,” said Alexis Perakis-Valat, Global President of L'Oréal’s Consumer Products Division.
“We’ve been closely following the brand’s success and are excited to accelerate its growth, not only in South Korea but globally, as part of our mission to democratize beauty and bring the best of Korean skincare to consumers worldwide.”
Dr. Gun Young Ahn, M.D., Ph.D., the founder of Gowoonsesang Cosmetics, shared his enthusiasm for the acquisition: “Our mission has always been to provide radiant and healthy skin through advanced dermatological research. We are confident that joining forces with L'Oréal will mark a significant milestone in realizing our global vision.”
Samuel du Retail, President of L'Oréal Korea, added, “Following the successful acquisition of 3CE, we are delighted to welcome another prominent Korean brand into the L'Oréal family. Dr.G embodies the vision of its founder, a Korean dermatologist who believes in offering everyone healthy skin. The addition of Dr.G, along with Gowoonsesang’s talented teams, will further strengthen our connection to the Korean beauty ecosystem and help us expand K-Beauty’s influence worldwide.”
The deal is set to close in the coming months, pending regulatory approvals and other customary conditions.
About L'Oréal Group
For over 115 years, L'Oréal, the world’s leading beauty company, has been focused on one goal: meeting the beauty needs of consumers around the globe. Our mission is to create beauty that moves the world, reflecting our commitment to beauty as essential, inclusive, ethical, generous, and sustainable. With a portfolio of 37 global brands and ambitious sustainability goals under our L'Oréal for the Future program, we offer the highest quality products, with a focus on efficacy, safety, sincerity, and responsibility, celebrating beauty in all its diversity.
With more than 90,000 employees, a global presence, and sales across all major distribution channels (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, and travel retail), the Group achieved sales of €41.18 billion in 2023. L'Oréal operates 20 research centers in 11 countries and boasts a dedicated team of over 4,000 scientists and 6,400 digital experts, driving the future of beauty and establishing L'Oréal as a Beauty Tech leader.
Article source : https://www.loreal.com/en/press-release/group/loreal-groupe-acquires-dr-g/
