FRANCE. L’Oréal has acquired 100% of South Korean cosmetics and fashion firm Nanda Co, whose brands include Stylenanda and make-up line 3CE.
The deal, expected to be completed in the next two months, marks L’Oréal’s first foray into the K-beauty sphere. With the acquisition, L’Oréal said it plans to expand the sales of 3CE internationally.
Stylenanda was founded by Kim So-Hee in Seoul in 2004. It 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. The company operates in overseas markets including Hong Kong, Singapore, Malaysia and Thailand.
The company reported a turnover of €127 million in 2017 and has nearly 400 employees.
Stylenanda, which is popular among Korean and Chinese Millennials, has a multi-channel distribution model including e-commerce, speciality retailers, points-of-sale in department and duty free stores.
Stylenanda CEO and Founder So Hee Kim 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.”
L’Oréal Consumer Products Division President Alexis Perakis-Valat commented: “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.”
L’Oréal Korea President Yann Le Bourdon 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 bringing Korean beauty and style to the rest of the world.”
