UPDATE: The Estée Lauder Companies (New York) has completed its investment in the parent of Have & Be Co. Ltd., the parent of the brands Dr. Jart+ and Do The Right Thing. Terms of the investment were not disclosed.
The Estée Lauder Companies is acquiring some k-beauty cool with its latest investment in Korean skin care brands Dr. Jart+ and Do The Right Thing. By taking an interest in parent company Have & Be Ltd., Estée Lauder is seeking a greater foodhold among millennial consumers.
Dr. Jart+ and The Estée Lauder Companies share an entrepreneurial heritage as well as a commitment to innovation and creativity.
Previously: Lessons from the Korean Skin Care Market
Dr. Jart+ was launched online in 2005 by ChinWook Lee and has since expanded to markets throughout Asia and the United States via department stores and specialty-multi and e-commerce channels including Sephora.
Dr. Jart+ played a role in the global rise of BB creams, in addition to moisturizers, cleansers, masks and serums.
Further reading: Anatomy of BB Creams
The Estée Lauder Companies’ investment also includes an interest in Do The Right Thing (DTRT), a men’s-focused skin care brand. Founded by 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.
"Global consumers look to Korea as a trendsetting market in beauty, and the Dr. Jart+ brand is part of the reason why,” said William P. Lauder, Executive Chairman of The Estée Lauder Companies Inc. “Dr. Jart+ and The Estée Lauder Companies share an entrepreneurial heritage as well as a commitment to innovation and creativity. We have great respect for this brand, and we appreciate the opportunity to support and advise Mr. Lee and his team as they continue to grow Dr. Jart+ globally.”