L’Oréal launches luxury brand K-Beauty Shihyo
Created in collaboration with South Korea Hotel string and hong kongBased at Anchor Equity Partners, the skincare brand will be introduced in Korea through a third-party joint venture, called Loshian.
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Shihyo, which means “the wisdom of time” in Korean, is inspired by the 24 seasons of the traditional lunisolar calendar. “Shihyo embodies the wholesome energy of nature, powered by plant-based science,” L’Oreal said in a statement.
Shihyo offers 24 different bulbs with 24 herbal ingredients harvested at the height of each season. The range includes facial cleanser, essence, cream, shampoo and conditioner.
All Shihyo product formulas contain a patented ingredient called ShiHyo24, which infuses 24 herbal ingredients with fermented rice water and ginseng water. The nutrient-rich formulation is based on scientific research and innovation with proven efficacy, according to the brand.
The ingredients are sourced directly from local farmers in South Korea, according to In-Gyu Han, chief operating officer of Shilla Hotel, in the statement.
“Rooted in exceptional traditional wisdom and knowledge of naturalness, Shihyo represents the epitome of Asian luxury beauty. Backed by science, Shihyo delivers the highest quality of skin care with its signature patented ingredient, delivering the highest luxury beauty experience,” said Cyril Chapuy, President of L’Oréal Luxe.
“Shihyo offers the highest quality of skincare, thanks to its signature patented ingredient, delivering the highest luxury beauty experience,” he added.
“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.
The brand was unveiled at Shanghai’s CIIE Exhibition beginning of November.
Shihyo will focus on the North Asian market with a flagship store, called “Seoul Garden”, which will open “in the coming months” at the Shilla Seoul Hotel in Korea. A launch in China is planned for 2023.
L’Oréal first dabbled in K-beauty in 2018, with the acquisition of Nanda Co. Ltd., the South Korean lifestyle and fashion makeup company that includes the popular color cosmetics brand Stylenanda.
North Asia L’Oréal is the French beauty giant’s second largest region in terms of sales, after Europe. North Asia accounted for more than 28% of the group’s global sales in the nine months ending September 30. Sales there increased by 11.3% in reported terms and by 0.3% on a comparable basis to reach 2.41 billion euros in the third trimester.