Cult K-Beauty Brand Dr. Jart+ Was Just Bought by The Estée Lauder Company
Marking the company’s first Asia-based beauty brand.
K-beauty label Dr. Jart+ has become a cult-favorite amongst beauty enthusiasts all over the world, and with the beauty products taking the world by storm, the brand has just been acquired by The Estée Lauder Companies Inc. Earlier this week it was announced that the company had bought Have & Be Co. Ltd, the Seoul-based company that created Dr. Jart+.
Prior to the acquisition, The Estée Lauder Companies already had a minority investment in the company, and now the company will be purchasing the remaining two-thirds of Have & Be’s shares. Dr. Jart+ will join brands like La Mer, MAC Cosmetics and Too Faced, as The Estée Lauder company owns a handful of well-known beauty labels world-wide.
“As the Company’s first acquisition of an Asia-based beauty brand, Dr. Jart+’s focus on creating high-quality skin-care products that fuse dermatological science, incredible innovation capabilities, and artistic expression make it a terrific, strategic addition to our diverse portfolio of prestige beauty brands,” said Fabrizio Freda, president and CEO of The Estée Lauder Companies Inc. about the latest acquisition.
Since being founded in 2005, Dr. Jart+ has grown to become an internationally recognized beauty label, and it remains to see what its growth will be like following the acquisition. Keep your eyes peeled as any more news surrounding the label surfaces.