17/12/2015 — NEW YORK — (BUSINESS WIRE)
The Estée Lauder Companies Inc. (NYSE:EL) announced today that it has completed its investment in Have & Be Co. Ltd., the South Korean company behind skin care brands Dr. Jart+ and Do The Right Thing. Terms of the investment were not disclosed.
Launched online in 2005 by ChinWook Lee, Dr. Jart+ is a Seoul-based, global high-growth skin care brand featuring quality and innovative products designed to address specific skin care needs. The brand’s unique fusion of dermatological science and art – as reflected in the brand name, which is inspired by the phrase “Doctor Joins Art” – appeals to a broad range of consumers, especially millennials. Dr. Jart+ is sold in many countries around the world, primarily in Asia and the United States, through various department stores, specialty-multi and e-commerce channels including Sephora.
The Estée Lauder Companies’ investment also includes an interest in Do The Right Thing (DTRT), a men’s-focused skin care brand that fuses Korean innovation with a bold New York style. Founded by Mr. Lee in 2012, DTRT’s line of cleansers, lotions, moisturizers and serums are sold in Korea through various channels and in the United States through Sephora and BirchboxMan.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Marni, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle and GLAMGLOW.
The Estée Lauder Companies Inc.
Alexandra Trower, 212-572-4430
Dennis D’Andrea, 212-572-4384
KEYWORDS: United States Asia Pacific North America Canada New York South Korea
INDUSTRY KEYWORDS: Retail Cosmetics Fashion