Estée Lauder to Acquire Interest in Have & Be Co. Ltd; Terms Not Disclosed
The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has
signed an agreement to purchase an interest in Have & Be Co. Ltd., the
South Korean company behind skin care brands Dr. Jart+ and Do The Right
Thing. Terms of the investment were not disclosed. The deal is expected
to close in December 2015.
Launched online in 2005 by ChinWook Lee, Dr. Jart+ is a Seoul-based,
global high-growth skin care brand featuring quality and innovative
products designed to address specific skin care needs. The brand's
unique fusion of dermatological science and art – as reflected in the
brand name, which is inspired by the phrase "Doctor Joins Art" – appeals
to a broad range of consumers, especially millennials. Dr.