Snail Cream Embraced by L'Or?al... Acquisition of Gounsesang Cosmetic

Joined L'Or?al Group Consumer Cosmetic Division

Global cosmetics company L'Or?al Group is acquiring Gowoonsesang Cosmetic, a subsidiary of Swiss distribution group Migros.

According to the cosmetics industry on the 24th, L'Or?al Group has signed a contract to acquire Gowoonsesang Cosmetic from Migros. Gowoonsesang Cosmetic was founded in 2003 by dermatologist Dr. An Geon-Young and is headquartered in Seoul. It operates the dermocosmetic brand 'Dr.G'. Six years ago, in 2018, it was sold to Mavelle AG, a cosmetics raw materials subsidiary of the Migros Group.

Dr.G is one of the skincare brands. Its main product is the ‘Red Blemish Clear Soothing Cream’. The products are sold through domestic online and offline retail channels and are considered a top dermocosmetic brand in Korea's H&B channels.

With this contract, Dr.G will join L'Or?al Group's Consumer Cosmetics Division. It is expected to fulfill the demand for reasonably priced skincare solutions. Alexis Perakis-Valat, Global Head of L'Or?al Group’s Consumer Cosmetics Division, explained, “Dr.G, developed by dermatologists to provide high-performance solutions suitable for sensitive skin, perfectly complements the existing skincare portfolio of L'Or?al’s Consumer Cosmetics Division.”

In 2018, L'Or?al Group also invested 600 billion KRW to acquire the domestic cosmetics company 3CE Stylenanda. At that time, L'Or?al Group expressed its intention to expand 3CE into the Chinese and Asian markets to establish it as a global color cosmetics brand.

Samuel Duh, CEO of L'Or?al Korea Retail, said, “Following the successful acquisition of 3CE, we are pleased to welcome another K-beauty brand into the L'Or?al family and contribute to spreading Korean beauty worldwide,” adding, “L'Or?al’s involvement in the Korean beauty ecosystem will be further strengthened, and the influence of K-beauty will continue to expand globally.” This acquisition is expected to be completed within the next few months after regulatory approvals and customary procedures.