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Reuters Published December 24, 2024 Download
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L'Oreal acquires South Korea's Dr.G in skincare deal with Migros

By
Reuters Published
December 24, 2024

French cosmetics giant L'Oreal said on Monday it had agreed to buy Gowoonsesang Cosmetics, which includes South Korean skincare brand Dr.G., from Swiss retailer Migros.

The Korean beauty market is dominated by local brands known for being among the world's most innovative, and increasingly popular overseas as part of a trend for 'K-Beauty'.

Dr.G will meet rising demand for K-Beauty and effective yet affordable skincare, L'Oreal said in a statement, adding that it has a growing pan-Asian presence and global growth potential.