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Tag: Dr Jart+

  • Estee Lauder bought South Korean Dr Jart+ Brand

    Estee Lauder bought South Korean Dr Jart+ Brand

    Estee Lauder has acquired the remaining two-thirds it does not already own of Have & Be, the Seoul-based company behind skincare brand Dr Jart+.

    The global cosmetics company bought a minority stake in Have & Be in December 2015 and expects to close on the balance next month.

    With Dr Jart+, Estee Lauder hopes to strengthen its leadership position in Asia Pacific and be able to expand further there and in North America and the UK.

    “The Estee Lauder Companies is the ideal home for our brands,” said Chin Wook Lee, founder and CEO of Have & Be. “Since the beginning of our partnership four years ago, the company has shared its mission to provide the very best skin-care and beauty products to consumers around the world. We are excited for the opportunity to continue this partnership as we continue to innovate and grow our brands globally.”

    Since the partnership with Estee Lauder in 2015, Dr Jart+ has witnessed significant growth and is expected to achieve more than US$500 million in net sales this calendar year. Have & Be’s total enterprise is valued at approximately US$1.7 billion.

    President and CEO of The Estee Lauder Companies, Fabrizio Freda, says Dr Jart+’s focus on creating high-quality skin care products that fuse dermatological science, innovation capabilities and artistic expression make it a terrific, strategic addition to Estee Lauder’s diverse portfolio of prestige beauty brands.

    “We look forward to continued global growth in the years to come.”

    Founded in 2005, Dr Jart+ is now one of the fastest-growing skincare brands in the world. Its products are currently available in 36 markets internationally, through 5524 retail outlets.

  • LVMH affiliate invests $50m in Clio

    LVMH affiliate invests $50m in Clio

    L Capital, an affiliate of luxury brand group LVMH, will invest US$50 million in Korean cosmetics company Clio, which aims to go public by the end of this year.

    Clio will issue redeemable convertible preference shares to be taken over by the investment company, and an official agreement for this pre-IPO investment will be signed next week.

    After almost two decades of mediocre turnover since its establishment in 1997, Clio’s sales surged to 107 billion won ($93.07 million) last year with an operating profit of 22.5 billion won, boosted by an appearance on a popular TV show. Its total market value after IPO is expected to be more than 1 trillion won.

    L Capital ventured into the Korean corporate world two years ago by investing 60 billion won in YG Entertainment, becoming the second-largest shareholder of one of the top three entertainment companies in Korea.

    Its second choice of Clio reflects the growing demand in Asia, particularly China, for K-beauty products.

    Korean cosmetics exports to China alone last year were worth $1.09 billion, double the value of the previous year and coming in second to French cosmetics.

    US cosmetics company Estee Lauder last year became a major shareholder of Have and Be, the parent company of Dr Jart, while Goldman Sachs’ private equity fund took over Carver Korea, which owns AHC, for 520 billion won this year.

  • Estee Lauder buys into Korean skin care brands

    Estee Lauder buys into Korean skin care brands

    Estee Lauder has bought an interest in South Korea’s Have & Be, which owns the skin care brands Dr Jart+ and Do The Right Thing.

    The deal is further evidence of the growing market strength and popularity of South Korea’s cosmetics industry.

    Terms of the investment were not disclosed but the deal is expected to be settled in December.

    Launched online in 2005 by ChinWook Lee, Dr Jart+ is a Seoul-based, global high-growth skin care brand featuring quality and innovative products designed to address specific skin care needs. The brand’s unique fusion of dermatological science and art – as reflected in the brand name, which is inspired by the phrase “Doctor Joins Art” – appeals to a broad range of consumers, especially millennials. Dr Jart+ is sold in many countries around the world, primarily in Asia and the US, through various department stores, specialty-multi and eCommerce channels including Sephora.

    “We are thrilled to announce our partnership with Dr Jart+,” said Fabrizio Freda, president and CEO of The Estee Lauder Companies.
    “This investment gives our company a strategic opportunity to develop a partnership with one of Korea’s most promising high-growth skin care brands.

    “ChinWook Lee and his team have built a successful and exciting brand that is at the forefront of the rapidly expanding Korean beauty wave.”
    ChinWook Lee said as the Korean beauty wave “continues to flourish globally”, his company is excited about the additional opportunities, support and guidance The Estee Lauder Companies will bring to the brands.
    “This is a tremendous moment for the Dr Jart+ team and for the continued growth of Korean beauty.”

    The Estee Lauder investment also includes an interest in Do The Right Thing (DTRT), a men’s-focused skin care brand that fuses Korean innovation with a bold New York style. Founded by Lee in 2012, DTRT’s line of cleansers, lotions, moisturisers and serums are sold in Korea through various channels and in the US through Sephora and BirchboxMan.

    “Global consumers look to Korea as a trendsetting market in beauty, and the Dr Jart+ brand is part of the reason why,” said William P. Lauder, executive chairman of The Estee Lauder Companies.

    “Dr Jart+ and The Estee Lauder Companies share an entrepreneurial heritage as well as a commitment to innovation and creativity. We have great respect for this brand, and we appreciate the opportunity to support and advise Mr Lee and his team as they continue to grow Dr Jart+ globally.”

    Estee Lauder’s products are sold in over 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, Mac, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, GoodSkin Labs, Tom Ford, Ojon, Smashbox,Ermenegildo Zegna, Aerin, Osiao, Marni, Tory Burch, Rodin olio lusso, Le Labo, Editions de Parfums Frédéric Malle and Glamglow.

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  • Lauder starts its own Korean Wave with Dr. Jart+

    Lauder starts its own Korean Wave with Dr. Jart+

    Estée Lauder Companies has tied up a deal to buy an interest in Have & Be Co, the South Korean company behind skincare brands Dr. Jart+ and men’s-focused Do The Right Thing for an undisclosed amount. The deal is expected to close in December.

    Dr. Jart+ is a Seoul-based, skincare brand first launched online by ChinWook Lee in 2005 which has a particular appeal for millennials, a target for ELC. It has pioneered the proliferation of BB creams across the globe and, today, its BB line is a consumer favourite.

    The brand claims to fuse dermatological science and art – hence its name which is derived from ‘Doctor Joins Art’. It is sold in many countries, but primarily in Asia and the US via department stores, speciality stores as well as e-commerce channels including LVMH’s Sephora.

    Korean beauty brands have been performing extremely well in the domestic and duty free and travel retail channels in the country for a number of years – in many cases much better than products from international houses. Just recently Chanel pulled out of the DF&TR market at Incheon Airport, signalling a likely market shift.

    STRATEGIC PARTNERSHIP

    Fabrizio Freda, President and CEO of ELC says: “This investment gives our company a strategic opportunity to develop a partnership with one of Korea’s most promising high-growth skincare brands.

    “ChinWook Lee and his team have built a successful and exciting brand that is at the forefront of the rapidly-expanding Korean beauty wave. We are pleased to partner with Mr Lee and we look forward to building long-term, strategic relationship with the entire Dr. Jart+ team.”

    ChinWook Lee, Founder and CEO of Have & Be Co, adds: “As the Korean beauty wave continues to flourish globally, we are excited about the additional opportunities, support and guidance that The Estée Lauder Companies will bring to our brands. This is a tremendous moment for the Dr. Jart+ team and for the continued growth of Korean beauty.”

    ELC’s investment also includes an interest in Do The Right Thing (DTRT), a men’s-focused brand fusing Korean cosmetics with a New York style. Founded in 2012, DTRT’s line of cleansers, lotions, moisturisers and serums are sold in Korea through various channels and in the US through Sephora and BirchboxMan.

    “Global consumers look to Korea as a trendsetting market in beauty, and the Dr. Jart+ brand is part of the reason why,” says William P. Lauder, ELC’s Executive Chairman.

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