Announced earlier today, Estée Lauder is anticipated to get Have Be Co. Ltd., the Seoul-based skin-care company behind Dr. Jart+, next month. (Have Be’s portfolio likewise includes grooming brand Do The Right Thing.)
The Estée Lauder Companies had actually already made a minority investment in Have Be back in 2015, yet this anticipated procurement will consist of the buying of the staying two-thirds of the firm’s shares.
When you think about K-beauty, I would certainly just about assure that the first name that comes to mind is not Estée Lauder. Besides the corporation’s legendary namesake brand, it has a wide variety of other familiar appeal brand names such as La Mer, MAC, Aveda, and Too Faced, none of which come from South Korea. Currently, The Estée Lauder Companies Inc. is officially staking an insurance claim in a brand born in what is arguably the fastest-growing area of the elegance world by buying precious Korean brand name Dr. Jart+.
«As consumers progressively focus on skin care and also the classification continues its quick international growth, the impact of cutting-edge, scientifically-driven brand names like Dr. Jart+ is undeniable,» William P. Lauder, executive chairman of The Estée Lauder Companies Inc., stated in a news release.
Founded in 2005, Dr. Jart+has actually become one of one of the most globally recognizable Korean brands, aiding usher in the prospering K-beauty fad in the U.S. Along with generating several of Allure editors’ and also K-pop celebrities’ favourite skin-care products, the brand has actually won numerous Allure Best of Beauty Awards. In 2017, the Dr. Jart+ Rubber Mask Bright Lover earned the desired red seal for being the most effective face mask for boring skin, and also in 2018, the Dr. Jart+ Cicapair Tiger Grass Re.Pair Serum was called finest calming facial serum.
With K-beauty’s appeal and also Dr. Jart+’s growing fanbase, leaders at The Estée Lauder Companies are understandably thrilled about the purchase.
In the statement, Fabrizio Freda, president and also CEO of The Estée Lauder Companies Inc., said, «As the Company’s initial purchase of an Asia-based beauty brand, Dr. Jart+’s focus on developing top quality skin-care products that fuse skin-related scientific research, incredible advancement capacities, as well as imaginative expression make it a terrific, tactical addition to our diverse portfolio of status charm brand names.»