Rumours were circulating after the Korea Economic Daily unveiled discussions between the two companies last month. They were eventually confirmed today with L’Oréal announcing the acquisition of 100% of Nanda Co. Ltd., the Korean lifestyle make-up and fashion company founded by Kim So-Hee in Seoul in 2004.
Stylenanda 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. With a turnover of 127 million euros in 2017 and nearly 400 employees, the company now operates in Korea and Japan, and has expanded its business into overseas markets including Hong Kong, Singapore, Malaysia and Thailand.
According to L’Oréal, Stylenanda is a highly desirable brand among Korean and Chinese millennials. Its multi-channel distribution model includes e-commerce, speciality retailers, point of sales in department and duty free stores. In addition, 3CE Stylenanda aficionados can also find the products they are looking for in the company’s iconic flagship locations: Stylenanda Hong-dae, Myeong Dong Pink Hotel & Pink Pool, Garosu-gil 3CE cinema and Stylenanda Harajuku in Tokyo.
“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,” said So Hee Kim, CEO and founder of Stylenanda.
With this acquisition, L’Oréal reinforces its presence in the accessible make-up market with a brand that is “perfectly positioned to nourish the growing appetite for make-up of millennials in Korea, China and beyond.”
The transaction is expected to be completed in the next two months after customary regulatory approvals.