L’Oreal helps Stylenanda spread its wings
Leading French cosmetic and skincare firm, L’Oreal announced this week the acquisition of Nanda Ltd, the popular South Korean lifestyle make-up and fashion company founded by Kim So-Hee in Seoul in 2004.
Stylenanda began as a fashion business and has since become a company spearheaded by its makeup brand 3CE, which today represents more than 70 per cent of the business. With a turnover of 127 million euros in 2017 and nearly 400 employees, the company operates in Korea and Japan, and has expanded into overseas markets including Hong Kong, Singapore, Malaysia and Thailand
Popular with South Korean and Chinese millennials. Stylenanda’s multi-channel distribution model includes e-commerce, speciality retailers and point of sales in department and duty free stores. In addition, Stylenanda fans can live the consumer and brand-selfie experience in the company’s iconic flagship locations at Hong-dae, Myeong Dong Pink Hotel & Pink Pool, Garosu-gil 3CE cinema and Stylenanda Harajuku in Tokyo.
We strongly believe that this transaction will be a landmark breakthrough for Nanda. With L’Oreal’s solid support and global platform, we will be able to expand Stylenanda’s footprint internationally and become a world-renowned brand,” said So Hee Kim, the company’s founder and chief executive.
Alexis Perakis-Valat, president of L’Oreal’s Consumer Products Division, concurred, saying: “We are thrilled to welcome this cool Korean brand to the L’Oreal family. Stylenanda captures Seoul’s vibe, edge and creativity. It is perfectly positioned to nourish the growing appetite for make-up among millennials in Korea, China and beyond.”
Yann Le Bourdon, president of L’Oreal Korea, added: “With this acquisition, L’Oreal Korea will substantially reinforce its presence in the accessible make-up market. We are very proud to welcome the Group’s first Korean beauty brand and bring Korean beauty and style to the rest of the world.”
