05.03.18
L'Oréal has acquired Nanda Co. Ltd., a Korean lifestyle, makeup and fashion company for about $370 million. Nanda has annual sales of about $150 million. Nanda's makeup brand 3CE accounts for about 70% of sales. Nanda has operations in Korea and Japan and has expanded its business into overseas markets including Hong Kong, Singapore, Malaysia and Thailand.
"We strongly believe that this transaction will be a landmark breakthrough for Nanda," So Hee Kim, CEO and founder of Stylenanda, said. "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."
According to L'Oréal, Stylenanda is a highly desirable brand among Korean and Chinese Millennials. Stylenanda's multichannel distribution model includes e-commerce, specialty retailers, point of sales in department and duty-free stores.
"We are thrilled to welcome this cool Korean brand in the L'Oréal family. Stylenanda captures Seoul's vibe, edge and creativity," said Alexis Perakis-Valat, President of L'Oréal's Consumer Products Division. "It is perfectly positioned to nourish the growing appetite for make-up of millennials in Korea, China and beyond."
According to Yann Le Bourdon, president of L'Oréal Korea, with this acquisition, L'Oréal Korea will substantially reinforce its presence in the accessible makeup 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," said Le Bourdon.
"We strongly believe that this transaction will be a landmark breakthrough for Nanda," So Hee Kim, CEO and founder of Stylenanda, said. "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."
According to L'Oréal, Stylenanda is a highly desirable brand among Korean and Chinese Millennials. Stylenanda's multichannel distribution model includes e-commerce, specialty retailers, point of sales in department and duty-free stores.
"We are thrilled to welcome this cool Korean brand in the L'Oréal family. Stylenanda captures Seoul's vibe, edge and creativity," said Alexis Perakis-Valat, President of L'Oréal's Consumer Products Division. "It is perfectly positioned to nourish the growing appetite for make-up of millennials in Korea, China and beyond."
According to Yann Le Bourdon, president of L'Oréal Korea, with this acquisition, L'Oréal Korea will substantially reinforce its presence in the accessible makeup 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," said Le Bourdon.
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.
