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L’Oreal Groupe announced that it has signed an agreement to acquire Gowoonsesang Cosmetics, the parent company of Dr.G, a leading Korean skincare brand, from Swiss retail giant Migros Group.
Dr.G holds a strong market position in South Korea, ranking among the top mass-market skincare brands with a diverse sales mix across online and offline channels.
“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,” Global President of L’Oreal’s Consumer Products Division Alexis Perakis-Valat said.