After recently announcing it would continue to invest in emerging markets, The Estée Lauder Companies is putting its money where its mouth is by signing an agreement to purchase an interest in Have & Be Co Ltd. The South Korean company is behind skincare brands Dr. Jart+ and Do The Right Thing.
“I am delighted to partner with The Estée Lauder Companies. As the Korean beauty wave continues to flourish globally, we are excited about the additional opportunities, support and guidance that The Estée Lauder Companies will bring to our brands. This is a tremendous moment for the Dr. Jart+ team and for the continued growth of Korean beauty,” says Have & Be Co Ltd founder and chief executive officer ChinWook Lee.
The Estée Lauder Companies Inc president and chief executive officer Fabrizio Freda adds: “We are thrilled to announce our partnership with Dr. Jart+. This investment gives our company a strategic opportunity to develop a partnership with one of Korea’s most promising high-growth skincare brands. ChinWook Lee and his team have built a successful and exciting brand that is at the forefront of the rapidly expanding Korean beauty wave. We are pleased to partner with Mr. Lee and we look forward to building long-term, strategic relationship with the entire Dr. Jart+ team.”
His views are supported by The Estée Lauder Companies Inc executive chairman William P Lauder: "Global consumers look to Korea as a trendsetting market in beauty, and the Dr. Jart+ brand is part of the reason why. Dr. Jart+ and The Estée Lauder Companies share an entrepreneurial heritage as well as a commitment to innovation and creativity. We have great respect for this brand, and we appreciate the opportunity to support and advise Lee and his team as they continue to grow Dr. Jart+ globally.”
