Follow us twitter facebook
Edition: Brazil
Click here to subscribe toour free weekly newsletter click here
Industry buzz

Estée Lauder acquires K-beauty skincare brand Dr. Jart+

The Estée Lauder Companies Inc. is investing in K-beauty. The cosmetics giant has announced the imminent acquisition of Have & Be Co. Ltd., the Seoul-based, skincare company behind the cult beauty brand Dr. Jart+ (the company also owns the men’s grooming brand Do The Right Thing).

Dr. Jart+ products (Photo: © Courtesy of Dr. Jart+)

Dr. Jart+ products (Photo: © Courtesy of Dr. Jart+)

The deal, which is expected to close next month, marks Estée Lauder’s first acquisition of an Asia-based business. However, the two companies are used to working together - Estée Lauder made a minority investment in Have & Be back in 2015, but will now acquire the remaining two thirds of the Korean business. Have & Be’s total enterprise is valued at approximately US$ 1.7 billion.

"Dr. Jart+’s focus on creating high-quality skin care products that fuse dermatological science, incredible innovation capabilities and artistic expression make it a terrific, strategic addition to our diverse portfolio of prestige beauty brands," said Fabrizio Freda, President and CEO of The Estée Lauder Companies Inc., in a statement. "We look forward to continued global growth in the years to come."

"The entrepreneurial spirit and creativity of Dr. Jart+ is a perfect fit for The Estée Lauder Companies," added William P. Lauder, Executive Chairman of The Estée Lauder Companies Inc. "As consumers increasingly focus on skin care and the category continues its rapid global growth, the influence of cutting-edge, scientifically-driven brands like Dr. Jart+ is undeniable."

Dr. Jart+, which is expected to reach more than USD 500 million in net sales over 2019, has experienced major growth over the past few years. Since it was founded by CEO ChinWook Lee in 2005, it has gained a cult following among beauty-lovers for its high-performance moisturizers, masks, cleansers and serums. The brand is currently sold in stores or online in more than 35 countries globally.

Brazil Beauty News and AFP/Relaxnews

© 2019 - Brazil Beauty News - www.brazilbeautynews.com

latest news
Focus
Luxe Pack New York rescheduled to September

Luxe Pack New York rescheduled to September

Amid the latest developments of the Covid-19 epidemic in New York and the USA, the Luxe Pack management team has decided to postpone further the event to September 15th and 16th, 2020. The venue is unchanged: Jacob K. Javits Convention Center (Hall 1B). With these new dates, the show will be almost concomitant with the MakeUp in (...)

read more
Experts’ views
Radical reinvention : Disrupting the next decade of beauty

Cosmetics Inspiration & Creation
Radical reinvention : Disrupting the next decade of beauty

Beauty is an ever-changing industry. Yet some changes make more of an impact than others. The more society changes, the more these changes cascade into the Beauty market. During the last MAD Cosmetics Innovations conference, organised by Premium Beauty News in Paris, Leila Rochet, Founder of Cosmetics Inspiration & Creation, (...)

read more

Features