L’Oréal CEO Hieronimus Cites K-Beauty Growth and Dr.G Expansion
Global cosmetics giant L'Oréal is using Korean beauty to inspire product development and accelerate overseas business expansion, according to mt.co.kr reporting. On October 12, L’Oréal product packaging observed in London, United Kingdom, featured the phrase “Inspried by Korean beauty.”
Korean Skincare Brands Grow at 30 Percent
Korean skincare brands are currently growing at an average rate of approximately 30 percent, according to estimates shared by L’Oréal Chief Executive Officer Nicolas Hieronimus during a third-quarter earnings conference call on October 22. Hieronimus stated that the K-beauty craze is a phenomenon that is actually happening.
Despite this high growth trajectory, Korean brands hold only a 3 percent to 4 percent share of the global skincare market, leaving significant room for international expansion.
He emphasized that scaling these brands across Western markets is a central corporate priority for the French beauty conglomerate, noting that the company must determine how to capitalize on this craze in the West.
L'Oréal Acquires Dr.G to Expand Functional Skincare
The company entered the Korean market in 2018 by acquiring Nanda, the operator of the color cosmetics brand 3CE. Following that initial entry, L’Oréal signed an agreement in 2024 to acquire Gowoonsesang Cosmetics, the company behind the dermatological skincare brand Dr.G, finalizing the transaction last year.
These acquisitions allow L’Oréal to expand its portfolio from color cosmetics into functional skincare. Hieronimus stated that he has directed teams to accelerate Dr.G’s international rollout, mentioning that K-beauty is a speed game, so I asked all stakeholders to increase the speed,
and adding that expanding the brand into Western markets is a primary goal. The brand has re-entered the Chinese market and expanded into Southeast Asia. In the United States, Dr.G launched sales through TikTok Shop, with phased plans to build out a traditional offline retail footprint following initial online consumer engagement.
Meanwhile, 3CE continues to drive color cosmetics growth across emerging markets in Southeast Asia by using L'Oréal's established worldwide distribution network.