Estee Lauder bought South Korea's 'pill mask' Dr for US $1. 7 billion. Jart parent company
Have & Be, founded for US $40 thousand, was sold to Estee Lauder for US $1. 7 billion. According to foreign media, on November 18, Estee Lauder, an American Skin Care Group, announced that it would buy the remaining 1. 1 billion of Korean skin care company Have & Be for about US $2/3. Prior to this, Estee Lauder Group had acquired a 1/3 stake in the company at the end of 2015.
After the acquisition is completed at the end of this year, Estee Lauder Group will fully control Have & Be. It is reported that this is the first time Estee Lauder Group has fully controlled Asian skin care companies, and the deal will bring the value of Have & Be to about US $1. 7 billion. On December 2004, on behalf of Li Zhenxu, 50 million won (About $40 thousand) A cosmetics company Have & Be has been established, and Dr is the most important skin care brand under it. Jart (Tijiating) It has been popular in Korean duty-free shops with 'blue pill mask. In December of the same year, 'Dr. The name Jart 'introduced BB cream. After the acquisition, ChinWook Lee will continue to promote brand development as founder and product creative director. Meanwhile, Dr. Jart and Do The Right Thing will also be managed by Jane Hertzmark Hudis, president of Estee Lauder Group. Fabrizio Freda, CEO of Estee Lauder Group, said in an interview with Women's Wear Daily that Dr. Jart's growth is driven by its scientific and innovative form, composition, packaging and brand communication.
The two sides have long imagined the possibility of long-term cooperation in the future. 'As the first medium-sized and fast-growing Asian global skin care brand to join Estee Lauder Group, Dr. Jart has great motivation and potential in channels and markets, 'Freda said,' especially in South Korea, China, the United States and the United Kingdom, as well as tourism retail. A spokesman for the group said: 'Over the past four years, the minority equity investment structure between Have & Be and Estee Lauder Group has generated benefits for both sides, this enabled Estee Lauder Group to invest in the emerging brand Dr earlier. Jart, at the same time, has attracted more attention from the capital market for the brand's top management to help them seek short-term and long-term growth opportunities. 'Estee Lauder Group's acquisition of Have & Be was also confirmed by the capital market, with its share price up 1% to 192. $89 per share, the market value increased to $69. 4 billion. Tijiating entered the American beauty collection store Sephora in 2011, three years after its launch. At first, two kinds of products were used in 10 stores, but now more than 100 products have entered 37 countries around the world, with sales increasing from 86. 3 billion won in 2015 to 489. 8 billion won last year. In addition, according to data from Women's Wear Daily, Dr. Jart + has achieved a compound annual growth rate of more than 80% in the past four years and is expected to reach US $0. 5 billion in sales in 2019. With Dr. Judging from Jart's performance, it is likely to be among the top 10 brands of Estee Lauder Group in the future.
According to Bloomberg data, the annual sales of brands such as Tom Ford, Jo Malone, Bobbi Brown and Aveda are between US $1 billion and US $. It is worth mentioning that in the past Tmall Double Eleven, it is one of the few South Korean brands that have sold billions of dollars. According to public information, before the Double Eleven, Dr. Jart Asia Pacific brand spokesperson Jolin Tsai and Li Jiaqi participated in Dr. Jart tijiating's offline activity of 'walking honghuan energy space' personally invited brand consumers to experience brand new products together. In addition, in addition to cooperating with head traffic bloggers and stars, Dr. Jart also cooperated with the well-known cartoon ip kakao friends to Launch 2 limited joint gift boxes, one is the tijia Ting shake Cup mask enjoyment set, and the other is the tijia ting star mask good partner set.