France's L'Oreal acquires Migros' South Korean cosmetic unit
13 Articles
13 Articles
Faced with fierce competition from German discounters Aldi and Lidl, Migros decided on a new strategy at the beginning of the year. Since then, the announcements of sales, closures or restructuring of its specialized retailers have followed one another. The French cosmetics giant L'Oréal has acquired Gowoonsesang Cosmetics, a South Korean subsidiary of the Mibelle group belonging to Migros, for an undisclosed amount. Negotiations to sell the res…
France's L'Oreal acquires Migros' South Korean cosmetic unit
PARIS : French cosmetics giant L'Oreal said on Monday it had signed a deal with Swiss retailer Migros to buy the latter's South Korean skincare business Gowoonsesang Cosmetics, which includes the skin care brand Dr.G.The company's announcement confirms Reuters' report on Friday. Dr.G is the No. 1 facial c
L'Oréal Acquires Migro’s South Korean Subsidiary, Gowoonsesang Cosmetics
L’Oréal Group signs an agreement with Swiss retail group Migros to acquire its subsidiary Gowoonsesang Cosmetics Co, Ltd, including Korean skincare brand Dr.G by dermatologist Dr. Gun Young Ahn. Dr.G will become part of L’Oréal Groupe’s Consumer Products Division, and meet the rising demand for K-Beauty and scientifically developed, effective yet low-priced skincare solutions. There’s a rising demand for K-Beauty In February 2024, the Migros Gro…
This 2024 has been characterized by its great dynamics in terms of mergers and acquisitions and a few days after closing the year it has come to light that the French giant L’Oréal has acquired the owner of the South Korean brand Dr.G, while it has transcended that Xerox will be buying from Lexmark. L’Oréal buys Dr.G L’Oréal announced this Monday that he has agreed to the purchase of Gowoonsesesang Cosmetics, a South Korean company and that he o…
2024 - Mibelle Transfers South Korean Skincare Brand to L’Oréal: What’s Next for Its Shower Gels, Toothpastes, and Cleaning Products?
Migros has achieved a notable success by selling its subsidiary Mibelle’s South Korean Gowoonsesang Cosmetics to L’Oréal. This move reflects Mibelle’s focus on the booming K-Beauty sector. Migros aims to concentrate on its supermarket operations, avoiding competition with brand manufacturers and foreign ventures. While Gowoonsesang’s sale was straightforward, divesting Mibelle’s larger assets is more complex. Ongoing negotiations for the remaini…
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