L’Oreal acquisition of Style Nanda. Niiiice!!

It’s old (6 months?), but it relevant and it’s Korea, so I will post it. Ha.

L’Oreal purchases Nanda, one of the Korean startups in the fashion space. Could this be a trend?

I hope so.

L’Oreal completes acquisition of Style Nanda

French cosmetics giant L’Oreal said on June 21 it has completed the acquisition of one of Korea’s leading online retailers amid a rise in the global popularity of K-pop and Korean beauty items.

Last month, L’Oreal announced it will wholly purchase the makeup and fashion company Nanda, famous for its brand Style Nanda. It’s the French firm’s first takeover of a Korean firm. The transaction price was undisclosed.

“After obtaining the necessary authorizations from the relevant authorities, L’Oreal has finalized the acquisition of the Korean lifestyle company Nanda,” the company said in a statement.

Launched in 2004 as the fashion brand Stylenanda, the Korean firm has grown into a major retailer spearheaded by its makeup brand, 3CE, which now accounts for more than 70 percent of its business, according to L‘Oreal.

With a turnover of 127 million euros (US$152 million) last year, Nanda runs businesses in Korea and a number of overseas markets, including Japan, Hong Kong, Singapore, Malaysia and Thailand.

Nanda will be operated separately from L’Oreal Korea’s existing four business divisions in order to maintain its originality, it said. The online mall’s founder Kim So-hee will join the team as the chief creative executive, L’Oreal added.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

L’Oreal acquisition of Nanda Co. Ltd

And here is the post from L’Oreal:

L’Oréal announces the acquisition of 100% of Nanda Co. Ltd., the Korean lifestyle make-up and fashion company founded by Kim So-Hee in Seoul in 2004. 

Stylenanda began as a fashion business and has since become a company spearheaded by its make-up brand 3CE which today represents more than 70% of the business. With a turnover of 127 million euros in 2017 and nearly 400 employees, the company now operates in Korea and Japan, and has expanded its business into overseas markets including Hong Kong, Singapore, Malaysia and Thailand.

Stylenanda is a highly desirable brand among Korean and Chinese millennials. Stylenanda’s multi-channel distribution model includes e-commerce, speciality retailers, point of sales in department and duty free stores. In addition, Stylenanda aficionados can also fully live the consumer and brand-selfie experience in the company’s iconic flagship locations: Stylenanda Hong-dae, Myeong Dong Pink Hotel & Pink Pool, Garosu-gil 3CE cinema and Stylenanda Harajuku in Tokyo.

So Hee Kim, CEO and founder of Stylenanda, said “We strongly believe that this transaction will be a landmark breakthrough for Nanda. Grounded on L’Oréal’s solid support and global platform, we envisage to expand Stylenanda’s footprints internationally, becoming a world-renowned brand to lead global trends in beauty.”

Alexis Perakis-Valat, President of L’Oréal’s Consumer Products Division, said “We are thrilled to welcome this cool Korean brand in the L’Oréal family. Stylenanda captures Seoul’s vibe, edge and creativity. It is perfectly positioned to nourish the growing appetite for make-up of millennials in Korea, China and beyond.”

Yann Le Bourdon, President of L’Oréal Korea, added “With this acquisition, L’Oréal Korea will substantially reinforce its presence in the accessible make-up market. We are very proud to welcome the Group’s first Korean beauty Brand and contribute to bring Korean beauty and style to the rest of the world.”

With this acquisition, L’Oréal plans to expand the sales of 3CE internationally. The transaction is expected to be completed in the next two months after customary regulatory approvals.

L’Oreal completes acquisition of Nanda

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