L’Oréal launches luxury beauty brand Shihyo with Hotel Shilla
L’Oréal North Asia has launched a luxury beauty brand under the name Shihyo through a third-party joint venture Loshian, in a partnership with the South Korean operator of hotels and off-street shops. taxes Hotel Shilla and Anchor Equity Partners.
The brand marks L’Oréal’s first beauty brand launched through a joint venture. Inspired by “Asian wisdom of 24 seasons”, Shihyo is based on the naturalness of 24 herbal ingredients harvested at the height of each season.
“Rooted in exceptional traditional wisdom and knowledge of naturalness, Shihyo represents the epitome of Asian luxury beauty,” said Cyril Chapuy, President of L’Oréal Luxe.
The brand’s first flagship store is set to open at The Shilla Seoul hotel in South Korea in the coming months.
“We are fully confident that Shihyo will meet the needs of discerning consumers with new luxury beauty routines,” said Sanggyun Ahn, Managing Partner of Anchor Equity Partners.
L’Oréal North Asia, which accounted for more than 30% of the L’Oréal Group’s global sales last year, comprises five geographically and culturally connected markets: mainland China, Hong Kong, Taiwan, Japan and South Korea. South.
Earlier this year, L’Oréal’s investment arm in China, Shanghai Meicifang Investment (Meicifang), acquired a minority stake in Chinese high-end niche fragrance brand Documents as part of the group’s efforts to grow her influence in one of the biggest beauty groups in the world. markets.