Skincare brand Dr G sold to L’Oréal for A$706.9m
L’Oréal has announced its acquisition of Gowoonsesang Cosmetics, which includes the South Korean skincare brand Dr G, from Swiss retailer Migros. The deal aligns with L’Oréal’s strategy to expand its presence in the growing K-Beauty market.
Transaction snapshot
Deal value: CHF399m ($706.9m)
Deal multiples: N/A
Deal type: Acquisition of Gowoonsesang Cosmetics, including Dr G
Investors: L’Oréal, acquiring from Migros
Dr G, known for dermatologist-developed skincare solutions, will join L’Oréal’s Consumer Products Division. The brand is positioned to cater to the increasing demand for K-Beauty and effective, affordable skincare globally.
Alexis Perakis-Valat, Global President of L’Oréal’s Consumer Products Division, highlighted the brand's compatibility with L’Oréal’s existing skincare portfolio. “Created by a dermatologist and offering high-performing solutions suitable for even the most sensitive skins, Dr G perfectly complements our offerings. We look forward to accelerating its growth in South Korea and beyond,” he said.
Dr G was founded in 2003 by dermatologist Dr Gun Young Ahn. Its product range includes ingredient-focused skincare lines, such as the popular R.E.D Blemish Clear Soothing Cream. Dr G ranks among South Korea’s top three mass-market and dermocosmetic skincare brands, with a diversified omnichannel presence across online and offline retailers.
Dr Gun Young Ahn expressed optimism about the acquisition, stating, “Becoming part of L’Oréal will serve as a significant turning point in the global realisation of our mission to provide healthy and radiant skin through advanced research.”
This acquisition follows L’Oréal’s purchase of South Korean makeup brand 3CE in 2018. The transaction is expected to close in the coming months, subject to regulatory approvals and customary conditions.
