L’Oréal is launching a luxury K-beauty brand, called Shihyo.
“Shihyo delivers the highest skin care quality, thanks to its signature patented ingredient, offering the most elevated luxury beauty experience,” he added.
“We have full confidence that Shihyo will meet the discerning consumers’ needs with new luxury beauty routines,” said Sanggyun Ahn, managing partner of Anchor Equity Partners.Shihyo will focus on the North Asian market with a flagship store, called “Seoul Garden,” opening “in the coming months” at the Shilla Seoul Hotel in Korea. A launch in China is scheduled for 2023.
L’Oréal first dove into K-beauty in 2018, with the acquisition of Nanda Co. Ltd., the South Korean lifestyle makeup and fashion fashion company that includes the popular Stylenanda color cosmetics brand. The L’Oréal North Asia Zone is the French beauty giant’s second-largest region sales-wise, after Europe. North Asia accounted for more than 28 percent of the group’s global sales in the nine months ending Sept. 30. Sales there grew 11.3 percent in reported terms and 0.3 percent on a like-for-like basis to 2.41 billion euros in
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