L'ORÉAL GROUPE ACQUIRES KOREAN SKINCARE BRAND, DR.G

Dermatologist-founded Dr.G to join the Group's Consumer Products Division, bolstering its skincare portfolio and poised for international expansion

Clichy, 23 December 2024 – L'Oréal Groupe announced today that it has signed an agreement with Swiss retail group Migros to acquire its subsidiary Gowoonsesang Cosmetics Co, Ltd, including Dr.G, the Korean skincare brand founded by dermatologist Dr. Gun Young Ahn in 2003 and headquartered in Seoul. Dr.G will become part of L'Oréal Groupe's Consumer Products Division (CPD), positioned to meet the rising demand for K-Beauty and scientifically developed, effective yet affordable skincare solutions.

For over ten years, Dr.G has been one of South Korea's leading skincare brands with a growing pan-Asian presence and global growth potential. Its product portfolio includes ingredient-led skincare with targeted product lines such as the best-selling R.E.D Blemish Clear Soothing Cream. With a diversified omni-channel sales mix across the most prominent online and offline retailers in South Korea, Dr.G consistently ranks among the top three mass market and dermocosmetic skincare brands^[1] in the country.

"We are delighted to welcome Dr.G into the L'Oréal Groupefamily. Created by a dermatologist and offering high-performing solutions suitable for even the most sensitive skins, Dr.G perfectly complements our existing skincare portfolio,"said Alexis Perakis-Valat, Global President of L'Oréal's Consumer Products Division. "We have been following the brand and its success for many years and we look forward to accelerating its growth in South Korea and the rest of the world, staying true to our mission to democratize and premiumize beauty by bringing the best of Korean skincare to consumers everywhere."

"We are thrilled that Gowoonsesang Cosmetics is joining L'Oréal", said Dr. Gun Young Ahn, M.D., Ph.D. Dermatologist, Founder of Gowoonsesang Cosmetic. "Our mission has always been to provide healthy and radiant skin through advanced research. We believe that becoming part of L'Oréal will serve as a significant turning point in the global realization of our mission".

"Following the successful acquisition of 3CE, we are glad to welcome a second Korean brand into L'Oréal and contribute to bringing the best of Korean beauty to the world", said Samuel du Retail, President of L'Oréal Korea. "Dr.G is a well-known brand founded by a Korean dermatologist, rooted in his vision that everyone deserves healthy skin. Having Dr.G brand and Gowoonsesang talented teams with us will further strengthen L'Oréal engagement with the Korean beauty ecosystem and allow us to expand the reach of K-Beauty globally."

The transaction is expected to be completed in the next few months after regulatory approvals and other customary conditions.

"This news release does not constitute an offer to sell, or a solicitation of an offer to buy L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our website www.loreal-finance.com.

This news release may contain some forward-looking statements. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements."

About L'Oréal Groupe

For 115 years, L'Oréal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L'Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies,perfumeries, hair salons, branded and travel retail), in 2023 theGroup generated sales amounting to 41.18 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L'Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.

More information on https://www.loreal.com/en/mediaroom

[1] Kantar Korea, October 2024

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