France’s L’Oreal acquires Migros’ South Korean cosmetic unit

PARIS (Reuters) – French cosmetics giant L’Oreal said on Monday it had signed a deal with Swiss retailer Migros to buy the latter’s South Korean skincare business Gowoonsesang Cosmetics, which includes the skin care brand Dr.G.

The company’s announcement confirms Reuters’ report on Friday. Dr.G is the No. 1 facial care line in the Korean dermocosmetics market.