“With this acquisition, L'Oréal Korea will substantially reinforce its presence in the accessible make-up market,” Yann Le Bourdon, president of L'Oréal Korea, says in a company press release about the deal with Nanda. “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,” adds Le Bourdon.
Nanda, a makeup and fashion company, was founded in 2004 by Kim So-hee. Earlier this month So-hee appeared on Forbes Emergent 25 (a list of women “chosen for the money they generate, the influence they wield and the ideas and trends they are advancing, bring fresh perspectives to Asia-Pacific’s growing business world,” as the article accompanying the list describes it).
The company L'Oréal is buying had a net profit of $20.4m in 2016 and sales that year amounting to $101m, according to Forbes. The Nanda business has been growing well; having launched as a site for second hand clothing, the company now has two of its own apparel brands and the 3CE cosmetics brand and boasts some 70+ branded retail locations across Asia and Australia.
Like many rising beauty brand leaders, So-hee has been exploring avenues to take her full business global. “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,” says So-hee in the L’Oréal press release.
L’Oréal is keen to make 3CE cosmetics a global brand, and according to the company release already has plans in place to do so. The deal to acquire Nanda is subject to regulatory approval but likely to close in the next couple of months.
“We are thrilled to welcome this cool Korean brand in the L'Oréal family,” Alexis Perakis-Valat, president of L'Oréal's consumer products division, tells the press.
“Stylenanda captures Seoul's vibe, edge and creativity,” emphasizes Perakis-Valat, adding that “it is perfectly positioned to nourish the growing appetite for make-up of millennials in Korea, China and beyond.”
Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.