Back in April BEAUTYDIRECTORY reported that L'Oréal was the preferred bidder to acquire a stake in South Korean fashion and beauty company, Nanda Co. Ltd. Today, the acquisition of the totality of Nanda has been confirmed, with the terms of the deal not yet disclosed.
According to WWD: "Stylenanda was started by So-Hee Kim in 2004 as a fashion activity that then developed into more of a makeup business, led by its 3CE color-cosmetics brand, which generates more than 70 percent of the total business. Last year, Nanda generated 127 million euros in sales and had almost 400 employees. It operates in South Korea as well as overseas markets such as Japan, Hong Kong, Singapore, Malaysia and Thailand."
L'Oréal Korea president Yann Le Bourdon said in a statement: “With this acquisition, L’Oréal Korea will substantially reinforce its presence in the accessible makeup market. We are very proud to welcome the group’s first Korean beauty brand and contribute to [bringing] Korean beauty and style to the rest of the world.”
It's thought L'Oréal will look to expand sales of cosmetics line 3CE, and fashion label Stylenanda, internationally.
