Mibelle acquires South Korean company
Buchs SG – Migros subsidiary Mibelle Group has acquired South Korean cosmetics manufacturer Gowoonsesang, giving Mibelle access to Asian markets with Gowoonsesang’s Dr. G brand. South Korea is considered a global pioneer with its K-Beauty trend.
Migros subsidiary Mibelle Group, which is a part of Migros’ M-Industry, has retroactively acquired the South Korean cosmetics company Gowoonsesang Cosmetics effective as of 29 June. Gowoonsesang specializes in dermocosmetics with its well-known Dr. G brand. The two sides have not revealed the purchase price.
According to a statement, the acquisition gives Mibelle access to Asian markets and innovative business models.
“With the Dr. G brand, we are entering one of the most international skincare markets,” said Luigi Pedrocchi, CEO of the Mibelle Group. “The Mibelle Group is also supporting the Migros Group’s health strategy with new competency in dermocosmetics.”
Mibelle, which is headquartered in the St.GallenBodenseeArea, sees major growth potential in the skincare market in Asia. South Korea is considered a global pioneer with its K-Beauty trend, and the Dr. G brand “has developed into a well-known beauty and skincare brand in Korea”.
Gowoonsesang Cosmetics was founded in 2000 by dermatologist Gun-Young Ahn and generated turnover of 28 million Swiss francs in 2017.