Skincare products and services represent a growing industry in Asia as the middle class expands throughout the region. Beauty conglomerates headquartered in the U.S. and Europe are responding quickly, sealing M&A deals to reach the new customers.
Estée Lauder Cos. (NYSE: EL), headquartered in New York, completed its investment in Have & Be Co. in December. Based in Seoul, South Korea, Have & Be sells moisturizers and cleansers that are sold in the U.S. and Asia under the Dr. Jart+ and Do The Right Thing brands. Estée Lauder is interested in expanding some of its other brands in Korea too. The company said that it launched Glamglow in Korea earlier in 2016. Estée Lauder completed the acquisition of the Hollywood, California-based facial mask maker in January 2015 for an undisclosed amount.