At the beginning of February 2024, the Migros group announced its intention to sell the Mibelle Group as part of its focus on its core business. Based on the ongoing sales negotiations, Migros is confident that L'Oréal will offer the South Korean Mibelle Group subsidiary Gowoonsesang the best opportunities for the future.
Big plans for Dr.G
Gowoonsesang was acquired by the Mibelle Group in 2018 and has grown continuously since then. “I am proud of the development of Gowoonsesang with its main brand Dr.G in recent years. A big thank you to all the employees who have made this success story possible,” emphasizes Peter Müller, CEO of the Mibelle Group. He is convinced: “With L'Oréal by his side, Dr.G will be able to help even more people achieve healthy skin in the future.”
“We are glad to welcome Gowoonsesang into the L’Oréal family and to contribute to bringing the best of Korean beauty to the world”, said Samuel du Retail, President of L'Oréal Korea. “Having the Dr.G brand and Gowoonsesang’s talented teams with us will further strengthen L’Oréal engagement with the Korean beauty ecosystem and allow us to expand the reach of K-beauty globally.”
The employees of Gowoonsesang will join L'Oréal. The transaction is expected to be completed in the coming months following approval by the regulatory authorities.
The next steps in the Mibelle Group sales process
Even without Gowoonsesang, the Mibelle Group is an attractive, extremely innovative and well-positioned group of companies - with a focus on the markets in Europe and North America. Sales negotiations are currently underway and offers have been received. “There is a great deal of interest, and I am firmly convinced that the eventual buyer will be a good fit for the Mibelle Group and that we can continue to develop successfully under this new ownership,” says Peter Müller.
Migros expects to be able to announce the new owner in the first quarter of 2025.
