Estée Lauder is doing better than just keeping up with the Kardashians. The cosmetics giant is buying the South Korean skincare brand behind Dr. Jart. A more conservative price for a less faddish brand wins this beauty deal prize. sharonlamhk
Estée Lauder said on Nov. 18 that it would buy the rest of Have & Be, valuing the South Korean skincare enterprise at $1.7 billion. It first made a minority investment in the company behind Dr. Jart and men’s grooming brand Do The Right Thing in 2015. The deal, which is expected to close in December, represents Estee Lauder’s first acquisition of an Asia-based beauty brand.
Separately, Coty said on Nov. 18 it would pay $600 million for a majority stake in Kylie Jenner’s makeup and skincare businesses, valuing her company at $1.2 billion. Estée Lauder on Oct. 31 cut its full-year profit forecast, citing challenges due to months-long protests in Hong Kong and slowing growth in China.
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