Beauty & Balance

L’Oréal Acquires South Korea’s Stylenanda

PARIS — L’Oréal is diving into K-beauty with the acquisition of the totality of Nanda Co. Ltd., the South Korean lifestyle makeup and fashion company that includes the hot Stylenanda makeup range.Terms of the deal were not disclosed.Stylenanda was started by So-Hee Kim in 2004 as a fashion activity that then developed into more of a makeup business, led by its 3CE color-cosmetics brand, which generates more than 70 percent of the total business. Last year, Nanda generated 127 million euros in sales and had almost 400 employees. It operates in South Korea as well as overseas markets such as Japan, Hong Kong, Singapore, Malaysia and Thailand.L’Oréal said in a statement that Stylenanda “is a highly desirable brand among Korean and Chinese Millennials.” Its distribution channels include e-commerce, specialty retailers, department stores sales points and duty-free outlets.“Stylenanda captures Seoul’s vibe, edge and creativity,” said Alexis Perakis-Valat, president of L’Oreal’s Consumer Products Division, in the statement. “It is perfectly positioned to nourish the growing appetite for makeup of Millennials in Korea, China and beyond.”“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 Korean beauty and style to the rest of the world,” said Yann Le Bourdon, president of L’Oréal Korea.L’Oréal said that with the acquisition, it “plans to expand the sales of 3CE internationally.”For Stylenanda, being part of the French beauty giant allows for international expansion and the possibility of “becoming a world-renowned brand to lead global trends in beauty,” according to Kim, founder and chief executive officer of Stylenanda.

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