L'Oréal announces acquisition of Stylenanda
L'Oréal has announced its acquisition of Korean lifestyle makeup and fashion company, Nanda, which operates under the name Stylenanda.
The company, which was founded by Kim So-Hee in Seoul in 2004, began as a fashion business under the name Stylenanda. It has since then become spearheaded by its make up brand 3CE, which represents more than 70% of the business.
“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, said. “Stylenanda captures Seoul's vibe, edge and creativity. It is perfectly positioned to nourish the growing appetite for the make-up of millennials in Korea, China and beyond.”
The brand now operates in Korea and Japan, and has expanded the business into overseas markets including in Hong Kong, Singapore, Malaysia and Thailand.
“We strongly believe that this transaction will be a landmark breakthrough for Nanda,” So Hee Kim, CEO and founder of Stylenanda, said. “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.”
The company’s multichannel distribution models include e-commerce, specialty retailers, point of sales in department and duty-free stores. In addition, Stylenada also is able to fully live the consumer and brand-selfie experience in its iconic flagship locations: Stylenanda Hong-dae, Myeong Dong Pink Hotel & Pink Pool, Garosu-gil 3CE cinema and Stylenanda Harajuku in Tokyo.
“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, said. “We are very proud to welcome the group's first Korean beauty brand and contribute to bring Korean beauty and style to the rest of the world.”
The company, which was founded by Kim So-Hee in Seoul in 2004, began as a fashion business under the name Stylenanda. It has since then become spearheaded by its make up brand 3CE, which represents more than 70% of the business.
“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, said. “Stylenanda captures Seoul's vibe, edge and creativity. It is perfectly positioned to nourish the growing appetite for the make-up of millennials in Korea, China and beyond.”
The brand now operates in Korea and Japan, and has expanded the business into overseas markets including in Hong Kong, Singapore, Malaysia and Thailand.
“We strongly believe that this transaction will be a landmark breakthrough for Nanda,” So Hee Kim, CEO and founder of Stylenanda, said. “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.”
The company’s multichannel distribution models include e-commerce, specialty retailers, point of sales in department and duty-free stores. In addition, Stylenada also is able to fully live the consumer and brand-selfie experience in its iconic flagship locations: Stylenanda Hong-dae, Myeong Dong Pink Hotel & Pink Pool, Garosu-gil 3CE cinema and Stylenanda Harajuku in Tokyo.
“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, said. “We are very proud to welcome the group's first Korean beauty brand and contribute to bring Korean beauty and style to the rest of the world.”