The Estée Lauder Companies announced its acquisition of Have & Be Co. Ltd., the parent company of the Dr. Jart+ skincare brand, marking a significant expansion into the Asian beauty market.
Target Company Overview
The Estée Lauder Companies Inc. (NYSE: EL) has recently announced its agreement to acquire the remaining shares of Have & Be Co. Ltd., the Seoul-based skincare company renowned for its Dr. Jart+ brand and the men's grooming line, Do The Right Thing. This acquisition marks a significant strategic move for Estée Lauder, allowing enhanced market penetration, particularly in the Asia/Pacific region, North America, the United Kingdom, and travel retail.
Since Estée Lauder's initial investment in Have & Be Co. Ltd. in December 2015, the Dr. Jart+ brand has exhibited remarkable growth, anticipated to generate over $500 million in net sales for the calendar year 2019. With a total enterprise valuation of approximately $1.7 billion, this acquisition signifies a crucial step for Estée Lauder in expanding its portfolio in the competitive skincare market.
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Industry Overview
The skincare industry in South Korea has gained global recognition for its innovative products and trends, significantly influencing beauty standards worldwide. Known for its emphasis on technology-driven skincare solutions, the
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The Estée Lauder Companies Inc.
invested in
Have & Be Co. Ltd.
in 2019
in a Other deal
Disclosed details
Transaction Size: $1,133M
Revenue: $500M
Enterprise Value: $1,700M
Equity Value: $1,133M
Multiples
EV/Revenue: 3.4x
P/Revenue: 2.3x