L’Oréal signed an agreement with Swiss retail group Migros to acquire its subsidiary Gowoonsesang Cosmetics Co, Ltd., including skincare brand Dr.G.WHO: In 1998, when only private dermatology services were available, dermatologist Gun Young Ahn founded Gowoonsesang Dermatology Clinic in Seoul, the first cosmetic dermatology clinic in Korea. In 2000, Gowoonsesang Cosmetics was established as a cosmeceutical company, and in 2003 the Dr.G brand was born. Its product portfolio includes ingredient-led skincare with targeted product lines such as the best-selling R.E.D Blemish Clear Soothing Cream. With a diversified omnichannel sales mix across the most prominent online and offline retailers in South Korea, Dr.G consistently ranks among the top-three mass-market and dermocosmetic skincare brands in the country.Mibelle, which is part of the Swiss-based Migros Group of companies, is Migros's personal-care operation, comprised of Ondal in France, Mibelle Ltd in the UK, and Mifa AG.WHY: This move aligns with L'Oréal's strategy to expand its footprint in the rapidly growing K-beauty market. For over a decade, Dr.G has been one of South Korea’s leading skincare brands with a growing pan-Asian presence and global growth potential.IN THEIR OWN WORDS: "We are delighted to welcome Dr.G into the L'Oréal Groupe family. Created by a dermatologist and offering high-performing solutions suitable for even the most sensitive skins, Dr.G perfectly complements our existing skincare portfolio,” said Alexis Perakis-Valat, Global President of L'Oréal's Consumer Products Division.