L'OREAL Groupe has recently signed an agreement with Swiss retail group Migros to acquire well-known Korean skincare brand, Dr G, which was founded by dermatologist Dr Gun Young Ahn in 2003.
Dr G is known for its ingredient-led skincare range, such as its best-selling R.E.D Blemish Clear Soothing Cream.
According to a statement from L'Oreal, the brand consistently ranks among the top three mass market and dermacosmetic skincare brands in the country.
"Created by a dermatologist and offering high-performing solutions suitable for even the most sensitive skins, Dr.G perfectly complements our existing skincare portfolio," Alexis Perakis-Valat, Global President of L'Oreal's Consumer Products Division said.
"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 democratise and premiumise beauty by bringing the best of Korean skincare to consumers everywhere."
Thanks in part to the rise of South Korean pop culture, Korean beauty (also known as K-Beauty) has been on the rise in the Western world in recent years, known for its effectiveness, innovation and affordability.
According to the Business Research Company, the K-beauty global market will grow to $16.15 billion in 2029.
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