L'Oréal Groupe announced on 23 December 2024 the signing of an agreement with Swiss retail group Migros for the acquisition of its subsidiary Gowoonsesang Cosmetics Co., Ltd., including Dr.G, the Korean skincare brand founded by dermatologist Dr. Gun Young Ahn in 2003 and based in Seoul. Dr.G joins L’Oréal Groupe’s Consumer Products Division (CPD) to address the growing success of K-Beauty worldwide and expand its offering with effective, science-based, yet accessible skincare.
In 2024, the brand's sales amounted to €128.4 million.
The acquisition was finalised on 25 March 2025 and has been fully consolidated since that date.
L’Oréal Groupe announced on 9 June 2025 the signing of an agreement to acquire a 77.4% majority stake in the British skincare brand Medik8.
As part of the transaction, Inflexion, a leading European mid-market private equity firm, will remain a minority shareholder. The Founder will continue to serve on the board, with the current management committee also remaining in place.
This acquisition further strengthens L’Oréal’s Luxe portfolio, adding a premium science-backed skincare brand with a proven track record of success, with strong potential for global growth.
In 2024, Medik8's sales amounted to £66,1 million.
This acquisition was finalized on 10 September 2025 and is fully consolidated.
As part of the agreement, L’Oréal has also secured rights to buyout in full the minority shareholders valued at €325.3 million at the end of 2025 and exercisable in 2029. This liability is recorded as long-term financial debt (see note 9.1.1).
L'Oréal Groupe announced on 30 June 2025 the signing of an agreement to acquire Color Wow, one of the world's fastest growing and most innovative professional haircare brands.
Founded in 2013 by Gail Federici, Color Wow, based in the US and UK, offers a unique range of products that have gained a loyal and devoted following amongst stylists, media and consumers alike. Color Wow is a renowned prestige brand in the US haircare market, and is experiencing rapid growth, thanks in part to advocacy and its highly engaged online community. Still true to its professional origins, the brand is now omnichannel, and is already distributed in salons, selective distribution and e‑commerce platforms.
This acquisition further strengthens L’Oréal’s Professional products portfolio, with a proven track record of success and strong potential for global growth.
In 2024, Color Wow's sales amounted to $270.4 million.
The acquisition was finalised on 9 September 2025 and has been fully consolidated since that date.
The provisional allocation of the purchase prices led to the recognition of goodwill amounting to €1,761.4 million in respect of these acquisitions and is presented as follows:
| € million | Fair value at the date of acquisition | |
|---|---|---|
| Net assets at 100%(1) | Net assets at 100% (1)Fair value at the date of acquisition 698.4 |
Net assets at 100% (1)Note 7.2 |
| Net assets attributable to minority shareholders | Net assets attributable to minority shareholders Fair value at the date of acquisition -45.2 |
Net assets attributable to minority shareholders
|
| Goodwill on the Group's shares | Goodwill on the Group's shares Fair value at the date of acquisition 1,761.4 |
Goodwill on the Group's shares Note 7.1 |
| ACQUISITION PRICE | ACQUISITION PRICE Fair value at the date of acquisition 2,414.6 |
ACQUISITION PRICE
|
The impact of these acquisitions on revenue and operating profit for the full year 2025 is €547.0 million and €124.5 million.
During the first semester of 2025, L'Oréal has acquired a stake in the SkinSpirit network of aesthetic clinics in the United States with 38.37% of the voting rights and 36.13% of the interests (note 8).
On 9 January 2024, L'Oréal announced the signing of an agreement to acquire the entire capital of Gjosa, the Swiss company pioneer in the development of water micronization technology. L’Oréal had already made a first minority investment in Gjosa in 2021 up to 15% via its venture capital fund, BOLD (Business Opportunities for L’Oréal Development).
The closing was finalized on 31 January 2024 and has been fully consolidated since that date.
L’Oréal completed on 31 October 2024 the finalisation of the acquisition of 70% of a group of six aesthetic clinics located in China. YesSkin is founded by Dr. Song, a renowned and influential dermatologist in China. The aesthetic clinics offer injectables and machine treatments to clients and generate a turnover of 126 million yuan (corresponding to €16 million) in 2023.
This acquisition is fully consolidated.
The cost of these acquisitions represented €77.2 million. The total amount of goodwill and other intangible assets resulting from these acquisitions amounted to €91.7 million.
During the third quarter of 2024, L’Oréal completed the acquisition of a minority stake in Amouage SAOC, the Oman-based haute parfumerie house founded in 1983 and controlled by SABCO Group LLC.
