L'Oréal joins forces with Hotel Shilla, a leading Korean travel retailer and prestigious 5-star hotel chain, and Anchor Equity Partners. The trio entered into an agreement to co-invest in the launch of a newly created luxury beauty brand.
WHO: For over 110 years, L'Oréal has been the world's leading beauty player with a broad portfolio of 35 international brands and ambitious sustainability commitments. The business has 85,400 committed employees, a balanced geographical footprint, and sales across all distribution networks.
Hotel Shilla has extensive upscale hotel operations, is the parent company of The Shilla Duty Free, and holds a 44% stake in 3Sixty DutyFree of Miami.
Anchor Equity Partners is a private equity firm focusing on investment opportunities in the North Asia Pacific Region.
WHY: The agreement will fund a new brand that leverages the Korean innovation ecosystem, fusing cosmetic naturality and functional efficacy to reinterpret Asian wisdom with a modern professional touch.
IN THEIR OWN WORDS: L'Oréal Group said: "This novel three-party partnership will bring together a unique combination of L'Oréal's beauty expertise, supported by Shilla's luxury retail channel and underpinned by Anchor's robust financial and business model.
DETAILS:
