In a major sign that Korean beauty brands are gaining worldwide popularity, Estée Lauder has announced plans to invest in one of the companies that helped pioneer BB creams, Dr. Jart+. Terms of the investment, which is expected to close in December 2015, were not disclosed.
Estée Lauder has invested in Have & Be Co. Ltd, the company behind Dr. Jart+ and Do The Right Thing (DTRT), a men’s-focused skin care brand that fuses Korean innovation with a bold New York style.
The move aims to ride the popularity wave of trendsetting Korean skin care, in particular in Asian high growth markets. "Global consumers look to Korea as a trendsetting market in beauty,” said William P. Lauder, Executive Chairman of The Estée Lauder Companies Inc.
Launched online in 2005 Dr. Jart+ pitches itself as a fusion of dermatological science and art and is targeted specifically towards Millennials. Dr.Jart+ is now available in 15 countries across Asia, the Middle East, Europe and North America.