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L'Oréal India Acquires Cheryl's Cosmeceuticals
Posted: September 23, 2013
L’Oréal India announced the acquisition of Cheryl’s Cosmeceuticals, a pioneer in professional skin care products and treatments in beauty salons across the country. This is the first acquisition for L’Oréal in India.
Headquartered in Mumbai, Cheryl’s Cosmeceuticals was created in 1986 by Oscar & Cheryl Pereira and is today synonymous with superlative skin care treatments and products across salons in India. In 2012, Cheryl’s Cosmeceuticals had a distribution network spanning over 10,000 salons in India and a turnover of approximately 200 million rupees, equivalent to €3 million.
Jean-Christophe Letellier, managing director for L’Oréal India, said, “This is an attractive opportunity for L’Oréal in India as it broadens the product offering of our professional products division in this country to also include skin care products and services. It will further enhance our leadership position in the very dynamic professional products market where we are present with our brands L’Oréal Professionnel, Matrix, and Kerastase."
“It has been a great adventure to bring to market a truly unique brand that has captured the hearts and minds of many thousands of salons,” said Oscar Pereira, director of Cheryl’s Cosmeceuticals. “It will continue to grow and flourish with L’Oréal.”
The company expects the operation to be completed within a few weeks.