Announced previously today, Estée Lauder is anticipated to obtain Have Be Co. Ltd., the Seoul-based skin-care company behind Dr. Jart+, following 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, however this anticipated procurement will consist of the getting of the staying two-thirds of the company’s shares.
When you consider K-beauty, I would certainly all but guarantee that the first name that enters your mind is not Estée Lauder. Besides the company’s legendary namesake brand name, it possesses a vast array of various other acquainted elegance brands such as La Mer, MAC, Aveda, and also Too Faced, none of which come from South Korea. Now, The Estée Lauder Companies Inc. is formally laying an insurance claim in a brand name born in what is arguably the fastest-growing region of the charm world by purchasing beloved Korean brand Dr. Jart+.
“As consumers progressively concentrate on skin treatment as well as the group continues its fast international growth, the impact of cutting-edge, scientifically-driven brands like Dr. Jart+ is indisputable,” William P. Lauder, exec chairman of The Estée Lauder Companies Inc., claimed in a press release.
Founded in 2005, Dr. Jart +has turned into one of one of the most worldwide identifiable Korean brand names, helping usher in the thriving K-beauty trend in the U.S. Along with producing several of Allure editors’ and also even K-pop stars’ preferred skin-care products, the brand name has won a number of Allure Best of Beauty Awards. In 2017, the Dr. Jart+ Rubber Mask Bright Lover gained the coveted red seal for being the most effective face mask for plain skin, as well as in 2018, the Dr. Jart+ Cicapair Tiger Grass Re.Pair Serum was named ideal soothing facial product.
With K-beauty’s appeal and also Dr. Jart+’s expanding fanbase, leaders at The Estée Lauder Companies are not surprisingly excited about the purchase.
In the statement, Fabrizio Freda, president and also CEO of The Estée Lauder Companies Inc., claimed, “As the Company’s first procurement of an Asia-based elegance brand, Dr. Jart+’s concentrate on creating high-quality skin-care products that fuse skin-related science, incredible innovation capacities, as well as imaginative expression make it a terrific, critical enhancement to our diverse profile of prestige beauty brand names.”