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PARIS (Reuters) - France’s L’Oreal (OREP.PA) on Wednesday said it had agreed to buy South Korean make-up and fashion firm Nanda, as foreign cosmetic industry leaders jostle for a slice of one of the world’s most innovative beauty markets.

 

The logo of French cosmetics group L'Oreal is seen in front of the Arc de Triomphe during a public event in Paris, France, October 1, 2017. REUTERS/Charles Platiau/File Photo/File Photo

L’Oreal did not disclose how much it was paying for the company, detailing only that Nanda, known for its fashion business Stylenanda and 3CE cosmetics brand, had a turnover of 127 million euros ($152 million) in 2017.

The acquisition could be worth around 400 billion won ($371.6 million), Korean media previously reported when L’Oreal was picked as the preferred bidder.

L’Oreal declined to comment on the report.

The French group, owner of brands such as Lancome and Maybelline, said in a statement it planned to further roll out sales of 3CE internationally. The make-up brand generates nearly three quarters of Nanda’s revenue, the companies said, while Nanda primarily operates in Asia.

Foreign investors including LVMH (LVMH.PA), Estee Lauder (EL.N) and Unilever (UNc.AS) are also among those betting on continued demand for Korean beauty products in Asian markets such as China, backed by the popularity of Korean pop culture.

Chinese consumers, and young shoppers in particular, are driving booming sales of make-up and skincare products globally.

Korean beauty products, meanwhile - from face masks that incorporate innovative and natural ingredients such as snail slime, to high-end creams - are gaining traction outside Asia, and domestic companies like Amorepacific (090430.KS) are looking to expand in Europe.

L’Oreal said Nanda - its first Korean beauty brand - was “perfectly positioned to nourish the growing appetite for make-up of millennials in Korea, China and beyond.”

The acquisition is expected to be completed within two months, L’Oreal said.

Report published by Reuters. Original article can be found here.

 

Urutan Malaysia fuses over 60 techniques and applies it to every part of the body

The Malaysian Association of Wellness and Spa (MAWSpa), an organization representing the spa & wellness industry players in Malaysia, is one of the key players in developing Urutan Malaysia, which was launched in October 2017. In an exclusive interview with Sisters magazine, Dr. Baskaran Kosthi, the President of MAWSpa, explained further on the concepts of Urutan Malaysia.

 

Urutan Malaysia, which started off as “Malaysian Signature Massage”, is the brainchild of the Ministry of Tourism and Culture (MOTAC), as an effort to promote Malaysia as a tourism destination for spa & wellness treatment. Together with MAWSpa and other key players of the local wellness industry, MOTAC began developing Urutan Malaysia’s identity and methodology in 2012.

 

 

Dr. Baskaran Kosthi, President of MAWSpa.

“The idea of Urutan Malaysia came from the National Spa Council, which is to create something which is our own, just like how the Thais and the Indonesians have their own massage.” Dr. Baskaran explained. 

When asked what was unique about Urutan Malaysia, he went into further details: “We bring in the Qi Gong therapy, the Indian head massage, the Malay urut, the indigenous style of massaging the legs. The foot itself is Chinese reflexology. We used the Marma points. We used a lot of techniques which is indigenous for Malay, Chinese, Indian, and all the other ethnicities in Malaysia, bringing the rituals together and forming the massage therapy.”

 

The massage oil used in Urutan Malaysia is also a fusion of various herbs used in traditional therapies.

The fusion element of Urutan Malaysia does not stop at massage techniques, but is also applied to the massage oils, as well as the general ambience during the treatment. MAWSpa will be organizing a Meet & Mingle networking session during Cosmobeauté Asia 2018 this 9 – 12 July 2018, and invites spa & massage therapists to attend and understand more on Urutan Malaysia.

 

A new year has arrived and we would like to share this joyful moment with all our awesome visitors and exhibitors that supported us all along. We wish you a wonderful new year and achieved great success ahead. Do check out and mark your dates for our upcoming beauty trade exhibition happening in 2018!

 

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