L’Oréal is now a player in K-Beauty with its acquisition of Nanda Co., Ltd., which includes Stylenanda and the cosmetics brand 3CE.
The lifestyle, fashion, and beauty company is based in South Korea. L’Oréal now owns 100% of the company.
L’Oréal said in a statement, Stylenanda “is a highly desirable brand among [South] Korean and Chinese Millennials.”
Alexis Perakis-Valat, president of L’Oreal’s consumer products division, says, “Stylenanda captures Seoul’s vibe, edge and creativity...It is perfectly positioned to nourish the growing appetite for makeup of Millennials in Korea, China and beyond.”
Stylenanda began as a fashion business-- but now its make-up brand 3CE represents more than 70% of the business.
With a turnover of 127 million euros in 2017 and nearly 400 employees, the company now operates in Korea and Japan, and has expanded its business into overseas markets including Hong Kong, Singapore, Malaysia and Thailand.
So Hee Kim, CEO and founder of Stylenanda, says, "We strongly believe that this transaction will be a landmark breakthrough for Nanda. 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."
Yann Le Bourdon, president of L'Oréal Korea, adds, "With this acquisition, L'Oréal Korea will substantially reinforce its presence in the accessible make-up market. 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."
Stylenanda's multi-channel distribution model includes e-commerce, speciality retailers, point of sales in department and duty free stores.
Stylenanda aficionados fully 'live' the consumer and brand-selfie experience in the company's iconic flagship locations: Stylenanda Hong-dae, Myeong Dong Pink Hotel & Pink Pool (shown above), Garosu-gil 3CE cinema and Stylenanda Harajuku in Tokyo.
Also shown above is one of 3CE's popular products, Soft Lip Lacquer.
The transaction is expected to be completed in the next two months after customary regulatory approvals.