Mibelle, which is part of the Swiss-based Migros Group of companies, has announced the acquisition of Korean cosmetics brand Gowoonsesang.
The acquisition will allow the Swiss group to secure its expansion in Asian markets, with Korea being the eighth-largest personal-care market in the world.
Mibelle is Migros's personal-care operation, comprised of Ondal, in France (a former P&G-owned business specialising in high-end fragrance), Mibelle Ltd, in the UK, and Mifa AG.
Already the third-biggest private-label producer in the personal-care segment, Mibelle wants to expand into Asian markets with this acquisition, which will see it take over Gowoonsesang's Dr. G brand.
Important Market
Commenting on the acquisition, Luigi Pedrocchi, CEO of the Mibelle Group, explained, “With the Dr. G brand, we are entering one of the most important international skincare markets. The Mibelle Group is also supporting the Migros Group’s health strategy with new competency in dermocosmetics.”
Earlier in the year, Migros announced a partnership with Chinese e-commerce platform Tmall, owned by the Alibaba group.
Migros already has a portfolio of over 20,000 private-label products and currently exports Swiss goods to more than 50 countries worldwide. The company said that this newest acquisition in the personal-care segment will only serve to reinforce its position globally.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Matthieu Chassain. Click subscribe to sign up to ESM: European Supermarket Magazine.
