Finance
L'Oreal in talks to buy Migros' South Korean cosmetic unit, sources say
Published by Global Banking & Finance Review®
Posted on December 20, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 20, 2024
2 min readLast updated: January 27, 2026
L'Oreal is finalizing talks to acquire Migros' South Korean skincare business, Gowoonsesang Cosmetics, which could be announced soon.
By Andres Gonzalez and Oliver Hirt
LONDON (Reuters) - French cosmetics giant L'Oreal is in final talks to acquire the South Korean skincare business Gowoonsesang Cosmetics owned by Mibelle Group, a unit of Swiss retailer Migros, according to two sources with knowledge of the deal.
An announcement could be made as soon as on Monday, one of the people said.
A spokesperson for Migros said it did not comment on market rumors. L'Oreal did not respond to multiple requests for comment.
Mibelle acquired its stake in South Korean Gowoonsesang Cosmetics, which sells skin care products under the Dr.G brand, in 2018.
In February, Migros announced a strategic review for Mibelle Group, saying it wanted to find a new owner for the business.
Mibelle produces cosmetics for its own brands, including Dr.G, Imbue., Lee Stafford, and Mine, as well as for other brands, according to its website.
Dr.G is the No. 1 facial care line in the Korean dermocosmetics market, according to the Mibelle website.
Spanish investment bank Alantra was hired as adviser after the strategic review, to look for buyers for the business, one of the sources said.
A spokesperson for Alantra declined to comment.
Mibelle employs 1,615 people in five countries, with revenues of 661 million Swiss francs ($739.04)in 2023, according to its website.
($1 = 0.8944 Swiss francs)
(Reporting by Andres Gonzales and Oliver Hirt. Additional reporting by Dominique Patton, editing by Anousha Sakoui and Chizu Nomiyama)
The main topic is L'Oreal's potential acquisition of Migros' South Korean skincare unit, Gowoonsesang Cosmetics.
Gowoonsesang Cosmetics is owned by Mibelle Group, a unit of Swiss retailer Migros.
Alantra is advising Migros on the sale of its South Korean skincare business.
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