Lauder Invests in Dr. Jart+

The Estée Lauder Companies Inc. has signed an agreement to purchase an interest in Have & Be Co. Ltd., the South Korean company behind skin care brands Dr. Jart+ and Do The Right Thing, a men's skin care range. Terms of the investment were not disclosed.

The deal is expected to close in December 2015, according to Lauder.
 
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 United States, through various department stores, specialty-multi and e-commerce channels including Sephora.
 
“We are thrilled to announce our partnership with Dr. Jart+,” said Fabrizio Freda, president and CEO of The Estée Lauder Companies Inc. “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. We are pleased to partner with Mr. Lee and we look forward to building long-term, strategic relationship with the entire Dr. Jart+ team.”
 
Lee called the accord,  “a tremendous moment for the Dr. Jart+ team and for the continued growth of Korean beauty.”
 
The Estée Lauder Companies’ investment also includes an interest in Do The Right Thing (DTRT), a men’s-focused skin care brand created by Lee in 2012.  It is 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 Estée Lauder Companies Inc. “Dr. Jart+ and The Estée 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.”