L’Oréal announced on Wednesday that it has entered into an agreement to acquire Japanese skincare company Takami Co.L’Oréal said the acquisition of the company, which develops and markets Takami-brand skin care products, should be completed within the next few weeks.
The French cosmetics giant also renewed a long term brand licensing agreement with Takami brand owner Hiroshi Takami and signed a collaboration contract with his dermatology clinics in Tokyo.
“We are very pleased to welcome the Takami brand into our portfolio. Its reputation in Asia matches the remarkable quality of its products,” said Cyril Chapuy, president of L’Oréal Luxe, in a news statement.
“Its expertise in prestigious beauty treatments and its omnichannel distribution make it a very complementary brand within L’Oréal Luxe."
The Takami brand, founded in 1999, is well-known for its iconic product, the Skin Peel pre-serum, also called the "Little Blue Bottle" by Asian women.
The brand is mainly available in Japan and in some Asian countries, notably in China. Meanwhile, it is marketed through an omnichannel distribution including mostly e-commerce, in particular a subscription model, as well as via selective distribution.
Takami generated revenue of around 50 million euros ($60.8 million) in 2019 and continued its growth this year despite difficult market conditions due to the Covid-19 pandemic.
“Born from the expertise of the aesthetic and dermatological Takami clinics, our products provide the quality and the efficacy expected by the most demanding Japanese consumers,” said Yuji Okamura, president, and owner of Takami Co.
“After 21 years of growth in Japan, we are thrilled to join the L’Oréal Group, the world’s leading beauty company, which will allow us to develop our brand thanks to its scientific and international expertise.”
L'Oreal didn't reveal the financial details of the acquisition.