French giant L’Oréal SA has acquired a controlling stake in the British brand Medik8 amid the rapid growth of the skin care products market. L’Oréal reported this on Monday, June 9, informs Bloomberg.
According to media estimates, the transaction amount reaches about 1 billion euros (1 1.14 billion). Inflexion, a private equity firm, will remain a minority shareholder, while Medik8’s current management team will continue to operate. Financial details of the transaction were not disclosed.
Founded in 2009 in the UK, Medik8 specializes in anti-aging cosmetics and is positioned as an affordable brand. This acquisition will allow L’Oréal to expand its range of skin care cosmetics in various price categories.
Bloomberg notes that L’Oréal is actively investing in skin care, particularly due to the growing popularity of products in social networks such as TikTok, where bloggers promote creams and serums.
In 2023, the company acquired Australian luxury brand Aesop to strengthen its premium segment.