We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Sep 27, 20207:32pm

Beiersdorf tackles K beauty: acquires stake in tech startup Lycl

The deal, which terms were not disclosed, aims to strengthen the positioning of the German cosmetics company in Asia.

Dec 9, 2019 — 7:09pm
mds
Save

Beiersdorf tackles K beauty: acquires stake in tech startup Lycl

 

 

Korean beauty continues to conquer the cosmetics giants. The German group Beiersdorf has acquired a “significant stake” of the Korean cosmetics company Lycl, based in Seoul. The deal, which terms were not disclosed, aims to increase Beiersdorf’s presence in South Korea and Asia.

 

“The decision was made based on the belief that the Korean ecosystem is a frontrunner regarding beauty and tech trends,” stated Endrik Hasemann, general manager of Beiersdorf South Korea in a statement.

 

Beiersdorf ended the first nine months of its fiscal year with a 2.4% increase, to 5.7 billion euros. Africa, Asia and Australia were the regions with the stronger performance, that led the growth of the group, with a rise of 10.6%.

 

Lycl was founded in 2013 and merges three business models: unpa.me, a review and content platform for K-beauty products; palett.me, an influencer network platform, and unpa.Cosmetics, its skin-care brand.

 

It is not the first time that an international group is seduced by Korean cosmetics. Last November, the company American Estée Lauder acquired the startup Have&Be, valued at 1.7 billion dollars.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...